Japan-US Joint Intervention Stabilizes Yen at 40-Year Low

Japan and the US have confirmed a joint yen-buying intervention to stabilize the currency after it fell to a 40-year low. The operation was aimed at countering excessive volatility and disorderly movements in the yen, according to Japan's finance ministry.

Finance Minister Satsuki Katayama said the government is prepared to act again if needed, while US Treasury Secretary Scott Bessent confirmed the joint move and expressed support for further coordinated intervention.

The yen rose over 1% to 155.20 per dollar after the announcement, its strongest level since early May.