US intervenes to support Japanese yen for first time in nearly 30 years

U.S. President Donald Trump has confirmed that the United States intervened in the market to support the Japanese yen, an action not seen in nearly three decades. The confirmation came with a positive framing, with President Trump stating, "It is good for the world economy but above all it is a sign of our friendship."

The yen has experienced a prolonged period of weakness, prompting Japan itself to undertake support purchases of its own currency earlier in the spring. The U.S. intervention signifies a coordinated effort to stabilize the currency, which has implications for global trade and financial markets.

This rare move underscores the interconnectedness of major economies and the willingness of the U.S. to engage in currency market interventions under specific circumstances. The statement from President Trump suggests a strategic decision aimed at fostering economic stability and reinforcing diplomatic ties between the two nations.

“

It is good for the world economy but above all it is a sign of our friendship.