Japan and U.S. Launch Joint Yen Defense as Dollar-Yen Gap Widens
TL;DR Summary
Tokyo and Washington reportedly coordinated yen-buying to halt the yen’s slide toward multi-decade lows, marking the first joint intervention since 2011, with officials signaling ongoing cooperation through the MOF and Fed facilities as the BOJ kept policy steady amid a widening rate gap with the U.S.
- Japan to announce that Tokyo and Washington took joint action to support the yen CNBC
- Bessent ‘to-do’ list shows proposal for US to buy $5bn-$10bn of Japanese yen The Guardian
- US Treasury undertakes historic intervention in yen market ft.com
- Treasury Warns Banks It Might Intervene in Dollar-Yen Exchange Rate WSJ
- Yen Traders Brace for More Intervention With US at Japan’s Side Bloomberg.com
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