Japan and US confirm rare joint intervention to prop up yen
US President Donald Trump says helping to bolster the Japanese currency is a sign of friendship.
Japan and the U.S. jointly intervened in the foreign exchange market last week to curb the yen's weakening against the dollar, indicating a possible escalation of such actions, according to wire service reports. The coordinated effort, supported by Washington, suggests that future interventions could be more impactful and enduring than those conducted independently, according to industry experts.
Analysts note that the collaboration aligns with U.S. strategic goals, as a stronger yen would help prevent the U.S. trade deficit from expanding, a concern that has recently pushed the yen to levels not observed since 1986. The U.S. also seeks to avert a situation where Japan, acting unilaterally to defend the yen, might sell U.S. Treasury securities, which could inflate long-term interest rates, experts warn.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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