US and Japan Unite on Yen Intervention, But Not on Pokémon Memes

The US and Japan coordinated an unusual currency intervention to prop up the yen on August 1, their first joint action since 2011.

The yen had fallen as low as 163.7 per dollar before the joint effort pushed it back toward 155. According to Treasury Secretary Scott Bessent, Washington bought yen alongside Japan's Ministry of Finance, backing Tokyo's claim that its currency is undervalued.

However, this cooperation between the two governments has not carried over to another issue - the unauthorized use of Japanese intellectual property in official US social media posts. The White House has used Mario, Pokémon, and Naruto characters in memes without permission, sparking complaints from Japan's Ministry of Foreign Affairs that have been ongoing since March.

The issue is seen as a matter of copyright infringement and reputational risk to the franchises, with officials arguing that even public institutions should respect intellectual property rights. The use of these characters has drawn attention from Japanese lawmakers and fans, who are pushing for stricter guidelines on digital content security.