Japan, U.S. Jointly Intervene to Halt Yen’s Decline, Finance Minister Says
Finance Minister Katayama will announce Monday that Tokyo and Washington conducted coordinated intervention to stem the yen’s slide, with the operation still ongoing.
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Japanese Finance Minister Katayama is set to announce on Monday that Japan and the United States jointly intervened in foreign exchange markets to arrest the yen’s decline.
A government official said the operation is still ongoing, without offering further details on its size or timing.
The yen has faced sustained selling pressure in recent months, and the coordinated move marks an escalation in efforts to stabilize the currency.
Source: First Squawk