Japan and US Conduct First Coordinated Yen-Buying Intervention in 15 Years

Tokyo (ANTARA) - Finance Minister Satsuki Katayama said that Japan and the United States had carried out a coordinated yen-buying intervention in the currency market for the first time in 15 years on Monday (3 August) local time.

The first joint action took place on Friday in New York, after the yen hit 163.99 against the US dollar on 23 July, its weakest level in roughly 40 years.

The intervention was conducted under the US-Japan Joint Statement of Finance Ministers issued in September 2025 and was aimed at curbing excessive volatility and the uncontrolled movement of the Japanese yen in recent months, Katayama said in a statement on Monday.

“The Japanese Ministry of Finance continues to monitor the situation closely and maintains intensive communication with the US Department of the Treasury. We will not hesitate to carry out further joint interventions,” she added.

In New York on Friday, the yen strengthened sharply to the lower range of the 157 level against the US dollar, with several Japanese government sources confirming that currency authorities had intervened in the foreign exchange market, Kyodo News reported.

Yen-buying activity intensified overnight during the New York trading session on Thursday (30 July), with the currency briefly surging to the upper range of the 157 level against the US dollar, touching its strongest level since mid-May, and strengthening by nearly 5 yen over roughly 50 minutes before eventually weakening back to the 160 level.