Japan and US Confirm Joint Intervention to Boost Yen

Japan and the United States confirmed a rare joint intervention in the currency market to prop up the Japanese yen. The action, which saw the yen surge against the dollar, was the first such bilateral move since the 2011 Tōhoku earthquake and tsunami.

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We will not hesitate to implement further coordinated intervention measures.

Japanese Finance Minister Satsuki Katayama stated on Monday that Japan and the U.S. Treasury coordinated to buy yen on July 31, addressing recent excessive and disorderly currency fluctuations. She emphasized that further coordinated interventions would not be ruled out if necessary.

U.S. Treasury official Benyamin Netanyahu also affirmed the joint action on X, linking economic security to national security and the U.S.-Japan alliance. He assured close communication with Japan's finance ministry and central bank, signaling readiness for further joint interventions.

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Economic security is national security, and the U.S.-Japan alliance is built on these two pillars.

Former U.S. President Donald Trump had previously confirmed the U.S. intervention, calling it a "sign of friendship" between the two nations and beneficial for the global economy. He suggested the move also served U.S. economic interests.

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This is a sign of friendship between the United States and Japan.

Data from the Bank of Japan indicated significant dollar sales in the New York market, potentially amounting to $58.97 billion, as part of efforts to stabilize the currency.

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The United States will gain 'economic benefits' from this move, but in reality, it is more like a 'sign of friendship' than anything else.