US and Japan Join Forces to Support Yen Amid Sharp Fluctuations
The US and Japan have coordinated their efforts to buy Japanese yen, marking a rare intervention by the two allies to curb the sharp fluctuations of the currency. The move came after the yen's value fell to its lowest level against the US dollar in about four decades.
According to a joint statement issued by the Japanese and US finance ministers in September 2025, the intervention aimed to address the excessive volatility and recent instability of the yen. Japan's Finance Minister Satsuki Katayama emphasized that his country is closely monitoring the situation and maintaining close communication with its counterparts at the US Treasury Department.
US Treasury Secretary Scott Bessent confirmed the coordinated move, stating that the intervention helped to counter the erratic fluctuations of the yen. He also expressed support for Japan's policy direction, affirming that the U.S. fully supports Japan's decisive market and monetary measures to address the significantly undervalued yen.
President Trump said the US had joined a coordinated intervention last week to support the yen, viewing it as a gesture of support for Japan and in the interest of global economic stability. He stated: 'They want a little support and we're always with Japan… Above all, it's a friendly signal.'