Japan, US Unite to Prop Up Yen Amid Record Low

Japan's Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington took joint action to halt the yen's slide to 40-year lows. The move marks a rare instance of bilateral coordination between the two nations.

In an interview, President Donald Trump said the U.S. is helping Japan prop up the yen as a sign of friendship and to aid the world economy. He noted that Japan has been 'very good' to the U.S., except for the historical event of Pearl Harbor.

The dollar fell 0.2% to 157.07 yen after Trump's remarks. According to Japanese government officials, Tokyo and Washington intervened in the currency market last week, with one official stating that the operation is 'still ongoing.'