US Treasury Joins Japan in Rare Yen Intervention

The US Treasury Department and Japan's Ministry of Finance joined forces in a rare coordinated intervention to prop up the Japanese yen, which had slid to its weakest level in roughly 40 years. The move was confirmed by President Donald Trump, who described it as a 'signal of friendship' between the two nations.

According to Trump, the US involvement aimed to support Japan's currency due to their good relationship and Washington's financial strength. He emphasized that the intervention would also bring financial benefits to the US and be beneficial for the global economy.

The joint intervention came after the yen slid to 163.24 per dollar last month, its weakest level since 1986, driven by higher US interest rates, rising oil prices tied to the Middle East conflict, and capital outflows from Japan.