Japan’s finance minister confirms coordinated yen-buying intervention with the US last Friday, fueling market speculation of further action.
The Japanese Yen (JPY) jumped 0.6% against the British Pound (GBP) to around 211.00 in European trading, recovering from early losses. The rally follows remarks by Japan’s Finance Minister Satsuki Katayama, who confirmed joint yen-buying intervention with the US on Friday and pledged further action if needed to curb volatility.
Markets had anticipated intervention after the yen’s sharp declines, with US President Donald Trump stating Washington supported Japan’s efforts to stabilize the currency. The yen was the strongest major currency on Monday, outperforming peers amid speculation of continued coordination between Tokyo and Washington.
Traders are closely monitoring policy signals as disorderly moves in the yen raise concerns over broader market stability. The intervention underscores Japan’s willingness to act decisively to counter excessive currency fluctuations.