Japan and US Intervene in Currency Market for First Time in 15 Years

Japan and the US have intervened in the currency market for the first time in 15 years, conducting a coordinated yen-buying intervention. The move was aimed at countering excessive volatility and disorderly movements of the Japanese yen.

The intervention occurred on Friday during New York trading, with the yen surging to the lower 157 level against the dollar. US Treasury Secretary Scott Bessent had previously stated that the yen 'seems very undervalued.'

Finance Minister Satsuki Katayama confirmed the joint action, citing a September 2025 finance ministers' statement and emphasizing the need for further interventions if necessary.