US and Japan Team Up for Rare Yen Intervention
The US and Japan have launched their first joint yen intervention since 2011 to halt the currency's slide. The coordinated move sent the yen sharply higher while the Nikkei share average fell.
The intervention is a rare occurrence, with the last one taking place in 2011. This time around, it has been confirmed that Japan and the US have taken joint action to support the Japanese yen after it hit a 40-year low.