US and Japan Conduct Rare Joint Yen-Buying Operation

The US and Japan have confirmed a rare joint operation to buy yen and stabilize the currency. This intervention was done in response to the yen's slide to fresh 40-year lows. The action is a coordinated effort between the two countries, with Tokyo signaling its willingness to take further action if needed.

The yen-buying operation was conducted on Friday, according to Japan's finance ministry. This move comes as the US Dollar Index (DXY) and USD:JPY have been under pressure in recent times. The coordinated effort between the two countries aims to curb disorderly FX moves.