U.S.-Japan Stage Coordinated Yen Intervention to Calm Markets
Japan and the U.S. carried out a coordinated yen-buying intervention to curb disorderly moves, with Tokyo signaling willingness to act again and maintaining close contact with the U.S. Treasury; the yen had recently hit four-decade lows, and authorities indicated they may use the Fed’s FIMA repo facility in the future, while Treasury Secretary Scott Bessent confirmed the action and pledged further joint interventions.