Tokyo and Washington Unite Against Yen's Plunge

Japanese Finance Minister Satsuki Katayama is set to announce on Monday that Tokyo and Washington took joint action in the currency market to stem the yen's slide to 40-year lows.

The move, which marks the first joint intervention since 2011, aims to boost the Japanese currency from its lowest levels against the dollar since 1986.

According to sources familiar with the matter, Katayama will stress the two countries' determination to combat what they consider excessive yen declines.

The operation is still ongoing, with one source confirming that joint action was taken and hinting at future cooperation between Tokyo and Washington.