US-Japan Yen Intervention: A Signal of Friendship

US President Donald Trump confirmed that Washington had joined Japan in intervening to support the yen, calling the move a 'signal of friendship'.

The intervention involved outright yen purchases coordinated by the US and Japan for the first time in nearly three decades, according to the Financial Times.

Trump said the main purpose of the move was to demonstrate friendship between the two countries, but also stated that it would bring a financial benefit to the US and support the global economy.

The yen had weakened to its lowest level since 1986 due to higher US interest rates, rising oil prices, and capital outflows.