US Dollar Plummets Against Yen After Joint Market Intervention

The US dollar weakened sharply against the Japanese yen on August 2, 2026, after U.S. President Donald Trump and Japan's finance minister confirmed both sides had intervened in markets.

TOKYO (AP) - The sharp decline in the dollar came as a surprise to many market analysts, who are still trying to understand the full extent of the intervention.

The US dollar lost significant ground against the yen, with the exchange rate slipping to a low point on Monday. This marks a notable shift from previous weeks, where the dollar had been steadily gaining strength against other major currencies.

AP reported that U.S. President Donald Trump confirmed that the United States had intervened in markets to support the dollar. Japan's finance minister also acknowledged their own intervention efforts, stating that both sides had worked together to stabilize the exchange rate.