Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington took joint action in the currency market to arrest the yen’s slide to 40-year lows, two Japanese government officials told Reuters.
The Ministry of Finance could not immediately be reached for comment on Sunday. U.S. Treasury officials did not immediately respond to requests for comment.
Joint Intervention
The expected announcement follows what market sources say were rounds of yen-buying in the market by the Japanese and U.S. authorities, the first such joint intervention since 2011, seeking to boost the Japanese currency from its lowest levels against the dollar since 1986.
Treasury Secretary Scott Bessent had a notepad at a Friday cabinet meeting with the words “To Do”, followed by “Buy Japanese Yen (JPY) $5-10 bil”, a Reuters photo showed.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
