Yen Rallies on US-Japan Intervention Anticipation

The Japanese yen has gained strength against other major currencies in the European session on Thursday. The anticipated possibility of US-Japan intervention to stabilize the global market has contributed to this rally.

According to Japan's Ministry of Finance (MoF), a joint intervention between the two countries was acknowledged in late July. This move aims to combat excessive volatility in currency markets.

Recently, Japan Finance Minister Satsuki Katayama spoke with US Treasury Secretary Scott Bessent, reaffirming their agreement that 'orderly yen movements are critical for global market stability.'