1 month ago
Japan, US launch first joint yen intervention in 15 years
Japan and the United States decided to help the Japanese yen, which had been falling a lot.
They bought a lot of yen in New York, spending about $59 billion.
The Japanese Finance Minister and the US Treasury Secretary said they would act again if needed.
President Donald Trump said the move showed friendship.
The yen went up to about 157 per dollar, but experts say the problem of low interest rates in Japan still remains.
Japan and the United States carried out their first joint currency intervention in 15 years to support the yen after it fell to 40‑year lows.
The intervention involved buying yen in New York markets, with Japan spending roughly $59 billion (¥8.45 trillion).
Finance Minister Satsuki Katayama and Treasury Secretary Scott Bessent said both governments would not hesitate to intervene again if needed.
President Donald Trump described the move as a “signal of friendship” and praised the cooperation.
The yen rebounded to around 157 / USD, but analysts warn that long‑term weakness remains tied to Japan’s low rates and rising import costs.
- Who
- Japanese Finance Ministry, US Treasury, President Donald Trump, Finance Minister Satsuki Katayama, Treasury Secretary Scott Bessent
- What
- Joint currency intervention to buy yen and support its value
- Where
- Tokyo, New York, United States, Japan
- When
- August 3, 2026
- Why
- To counter the yen’s slide to 40‑year lows, protect import costs, and demonstrate alliance
Key facts
- Currency
- Japanese yen (JPY)
- Intervention Date
- August 3, 2026
- Amount Spent
- $58.97 billion (¥8.45 trillion)
- Participants
- Japan, United States
- Outcome
- Yen rose to ~157 / USD
Quotes
President Donald Trump
President of the United States
“Japanese Ministry of Finance remains attentive and in close communication with our counterparts at the US Treasury. We will not hesitate to conduct further joint intervention.”
CNBC TV 18
financialexpress.com
“It seems likely that authorities would intervene further in coming days if the yen begins to unwind the recent move, as was the case in May of this year”
livemint.com
Finance Minister Satsuki Katayama
Japan's Finance Minister
“The Japanese Ministry of Finance remains attentive and in close communication with our counterparts at the US Treasury. We will not hesitate to conduct further joint intervention.”
firstpost.com
“Given the magnitude of the move in USD/JPY and its timing, the possibility of intervention cannot be ruled out.”
financialexpress.com
Gareth Berry
Strategist at Macquarie Group Ltd. in Singapore
“The Finance Ministry’s intervention is unlikely to mark a turning point for the yen, but we see scope for a short squeeze that pushes the yen at least temporarily higher against the U.S. dollar this week.”
livemint.com
livemint.com
“The price action alone looks like intervention.”
livemint.com
Sources
Japan confirms first Yen intervention with US in 15 years, signals more if needed
Japan, US intervene to prop up yen after 40-year lows; Trump says it's a 'signal of friendship'
Yen Rises Amid Speculation of More Intervention After US Support
Yen Traders Brace for More Intervention With US at Japan’s Side
Yen hits 3-month high as Japan, US confirm joint intervention; dollar skids – ‘Won’t hesitate further action’
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Yen Weakens as U.S. Rate Hike Signals Offset Intervention
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Japan, US Launch Rare Joint Yen Intervention, Signal More Action
