Treasury Defends Yen with Rare Intervention

The US Treasury Department has intervened in currency markets for the first time in 15 years, teaming up with the Japanese government to defend the yen against a four-year low.

The intervention was triggered by the yen's weakening against the dollar due to market expectations of higher interest rates in the US and Japan's low benchmark interest rate.

The move has helped stabilize the yen, but experts warn that addressing Japan's economic fundamentals will be necessary to prevent another decline.