Crypto
Japan and US Jointly Intervene in Yen Markets Amid Warning of Further Action
Former Bank of Japan official Atsushi Takeuchi issued a warning on August 4 that if the yen starts sliding again, both Japan and the US will likely intervene together to prop it up.
The intervention last July 30-31, where Japanese authorities and the US Treasury executed a coordinated yen-buying operation, was successful in yanking the currency from near 164 per dollar back to the 156-158 range. The Bank of Japan confirmed this operation on August 3, making it the first bilateral currency intervention between the two nations since 2011.
The move had an immediate impact on Bitcoin, which dipped to approximately $63,000 during the intervention.