US and Japan Join Forces to Stem Yen's Slide

Japan and the US have confirmed that they jointly intervened in currency markets to support the yen for the first time since 2011. The coordinated move was aimed at countering excessive volatility and disorderly movements in the Japanese currency, which has been experiencing sustained weakness.

The joint intervention, carried out with the U.S. Treasury Department on Friday, marked the first joint action of its kind since 2011. According to Japan's finance ministry, the operation was aimed at countering excessive volatility and disorderly movements in the Japanese currency after months of sustained weakness.

The confirmation highlights the determination of both governments to prevent sharp declines in the yen and Japanese government bonds from creating broader financial market disruptions. The US Treasury Secretary Scott Bessent confirmed Washington's participation in the intervention, indicating that the United States would remain ready to join future coordinated operations if required.