Japan-US Joint Yen Intervention Aims to Stem Currency's Slide

Japan's Finance Ministry confirmed that the country conducted joint yen-buying intervention with the U.S. Treasury Department on Friday to halt the yen's slide to fresh 40-year lows.

The move, which is the first since 2011, was a rare bilateral action aimed at countering excessive volatility and disorderly movements in the Japanese yen.

According to President Donald Trump, the U.S. helped Japan to prop up the yen as a sign of friendship and to help the world economy.

The dollar fell 0.2 per cent to 157.07 yen after Trump's remarks, well off the 40-year high near 164 hit late last month.