Japan and the US conducted coordinated Yen-buying intervention for the first time in decades to stabilize the currency.
The USD/JPY pair fell to 155.45, its lowest since May 6, after Japan and the US announced joint intervention to support the Yen. Japanese Finance Minister Satsuki Katayama confirmed coordinated Yen-buying efforts with Washington on Friday, signaling readiness for further action if needed.
The move marks the first such collaboration in decades, with US Treasury Secretary Scott Bessent stating it helped curb disorderly Yen fluctuations. Officials from both nations emphasized ongoing vigilance and close communication with the Bank of Japan.
Early Monday, Japan’s top FX official suggested the intervention could represent a peak in US-Japan currency cooperation. The Yen’s value is influenced by BoJ policy, bond yield differentials, and trader sentiment.