Japan and US Coordinate Yen Intervention to Stem Currency Slide

Japan and the US have confirmed coordinated yen intervention to support the Japanese currency. According to the Japanese finance ministry, the joint operation was conducted with the U.S. Treasury Department on Friday to counter excessive volatility in the yen.

The confirmation highlights the determination of both governments to prevent sharp declines in the yen from creating broader financial market disruptions, including upward pressure on US Treasury yields.

US President Donald Trump said earlier that the United States was assisting Japan in supporting the yen as a gesture of friendship and to help maintain global economic stability.