Japan’s reported ¥5.3 trillion yen-buying operation marks the first joint US-Japan intervention since 2011 to stabilize the currency.
The USDJPY fell below its 200-day moving average for the first time since October 2025 after Japan conducted a ¥5.3 trillion currency intervention on Friday. The operation, coordinated with the U.S. Treasury, aimed to support the yen amid a liquidity shortfall of ¥11.4 trillion.
The intervention was the first joint yen-buying effort by Japan and the U.S. since 2011. Market data confirmed the scale of the operation, which followed a sharp decline in the yen last week.
The USDJPY dropped an additional 0.58% early Monday, while EURUSD and GBPUSD showed minimal movement. The yen’s rebound contrasts with broader USD strength against other major currencies.