Forex
US-Japan Joint Intervention Halted Yen's Slide to New Lows
Japan and the US have confirmed their joint intervention in the yen market to prevent its decline to fresh 40-year lows.
The move, which is the first since 2011's coordinated action, aimed to counter excessive volatility and disorderly movements in the Japanese yen.
Japan's Finance Minister Satsuki Katayama told reporters that the country will not hesitate to take further action if necessary.
The joint intervention was confirmed after US President Donald Trump said on Sunday that the US is helping Japan to prop up the yen as a sign of friendship and to help the world economy.