Yen hits three-month high after Trump helps prop up currency
The Japanese yen reached a three-month high following a rare joint currency intervention by the US and Japanese governments. The move aims to stabilize the yen, which had been weakened by interest rate disparities and specific economic policies.
Why it matters
Coordinated currency interventions between major economies are rare and signal significant shifts in global financial policy and international cooperation.
Japan’s prime minister Sanae Takaichi met Donald Trump in March. Japan’s prime minister Sanae Takaichi met Donald Trump in March. Yen Yen hits three-month high after Trump helps prop up currency US and Japanese governments confirm they carried out a rare joint intervention late last week
Why has Trump stepped in to prop up Japan’s currency?
Prefer the Guardian on Google The yen has hit its highest level in three months after Japan and the US launched a combined operation to support the Japanese currency.
The yen strengthened to ¥155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week.
Tokyo’s finance ministry said on Monday the two governments had conducted coordinated yen-buying intervention and would not hesitate to take further action.
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