Tokyo and Washington Unite to Halt Yen's 40-Year Low

Japanese and US authorities have intervened in currency markets to halt the yen's sharp decline. On August 2, Japanese Finance Minister Satsuki Katayama is expected to announce joint actions with Washington aimed at stopping the yen's slide to 40-year lows.

The intervention follows several rounds of yen purchases by Japanese and American authorities, with the aim of supporting the yen against the dollar. According to sources, a decision may be made, and the operation is ongoing.