US and Japan Confirm Joint Yen Intervention After Currency Hits 40-Year Low

Washington sold euro reserves to purchase up to $10 billion in yen on July 31, marking the first coordinated currency defense between the two nations since 2011.

The yen traded at roughly 156.40 per dollar on Monday after Japanese Finance Minister Satsuki Katayama confirmed that Tokyo and Washington jointly purchased the currency during US trading hours on Friday [4]. The announcement converted days of market speculation into verified bilateral policy, following a decline that had pushed the yen to 163.99 on July 23, its weakest level since 1986 [10]. This confirmation establishes that the sharp reversal in the exchange rate over the past week was not merely the result of unilateral Japanese action or private positioning but stemmed from a coordinated government operation designed to arrest what officials termed excessive volatility [5].

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