Japan and US Unite Against Yen's Record Slide

Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington have taken joint action to combat the yen's slide to 40-year lows, according to two Japanese government officials.

The sources familiar with the matter said the two countries' determination is to arrest excessive yen declines. One source confirmed that Katayama would announce 'joint action', stating 'The operation is still ongoing.'

This marks the first joint intervention in 15 years, with market sources indicating rounds of yen-buying by Japanese and US authorities since 2011.