Japan, U.S. conduct joint yen-buying intervention in efforts to prop up currency
Japan and the United States have conducted a rare joint intervention to buy yen in an effort to stabilize the currency after it hit 40-year lows. The move aims to prevent global economic spillovers and address volatility in the currency markets.
Why it matters
Coordinated currency intervention by major central banks is a significant economic event that can influence global trade and interest rate policies.
A woman in front of an electronic screen displaying graphs showing the current and recent Japanese Yen exchange rate against the U.S. dollar after Japan and the United States conducted coordinated yen-buying intervention, in Tokyo, Japan, Aug. 3. Issei Kato/Reuters
The Japanese yen held gains above recent 40-year lows on Monday after Japan and the United States launched a rare joint yen-buying intervention and vowed to take further action if needed to shore up the currency.
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