Japan, US Unite for Yen Market Intervention

Japan's Finance Minister Katayama Satsuki confirmed that the country's ministry purchased Japanese yen in coordination with the US Department of the Treasury last week.

The joint intervention was aimed at countering excessive yen volatility in recent months, according to a statement released by the finance minister on Monday.

US Treasury Secretary Scott Bessent also confirmed the coordinated foreign exchange intervention on Sunday, stating that it 'countered disorderly yen movements.'

Bessent added that the US Treasury Department remains attentive and in close communication with Japan's Finance Ministry and the Bank of Japan, and will not hesitate to participate in further joint intervention.