Japan and US Team Up on Massive Yen Intervention

Japan's central bank intervened in the foreign exchange market for the second time this year to prop up the Yen. The intervention, whose size is not yet officially confirmed, is likely to be substantial, possibly surpassing a massive April intervention.

The involvement of the US in this effort marks a new development in Japan's efforts to stabilize its currency. However, experts are questioning the impact of US participation due to an unusual twist: the US sold Euros to buy Yen. This move may undermine the effectiveness of US involvement.