US and Japan launch rare joint effort to strengthen yen

The United States and Japan have launched an extraordinary joint currency intervention to prop up the Japanese yen after it plummeted toward a fresh 40-year low.

The coordinated market operation aimed to curb severe exchange rate volatility and lower the escalating costs of imported food and energy burdening Japanese consumers and businesses. US Treasury Secretary Scott Bessent confirmed the bilateral action, while financial analysts noted that the move helped prevent Tokyo from dumping massive tranches of US government bonds to raise capital.

Bank of Japan data indicates that Tokyo sold approximately 59 billion dollars in market reserves alongside parallel purchasing from Washington following political support from US President Donald Trump.