Japan and US acted together to halt yen’s slide
Japan is expected to announce joint action with the US to stop the yen’s decline to 40-year lows.
The operation involved yen purchases by Japanese and US authorities, the first joint intervention in 15 years.
Japan may have sold $58.97 billion to buy yen when it intervened in New York markets on Thursday, followed by another suspected foray into the market on Friday.
The US Treasury also indicated it might intervene in the yen market, with Treasury Secretary having noted the yen seems undervalued.