US Intervenes in Japan's Currency Market for First Time in Over a Decade

The US government has made a rare intervention in Japan's currency market for the first time in over a decade. The move was aimed at supporting the yen, which had fallen to a 40-year low against the US dollar.

According to President Donald Trump, the intervention was 'a signal of friendship' and would bring financial gains to the US.

The joint intervention with Japan's Finance Ministry was intended to curb excessive volatility in the yen. Treasury Secretary Scott Bessent said the US and Japan will not hesitate to conduct further joint intervention if necessary.