The United States and Japan have launched a coordinated intervention to strengthen the yen, the first such joint effort since 2011, according to a report by Insider Paper. The move follows President Donald Trump's statement earlier today that US support for the yen is a 'signal of friendship.' The intervention aims to stabilize the yen after it hit a 40-year low against the dollar.
The United States and Japan have officially launched a coordinated intervention to strengthen the yen, the first such joint effort since 2011, according to a report by Insider Paper. The move, which involves purchasing yen against the dollar, follows President Donald Trump's statement earlier today that US support for the yen is a 'signal of friendship.' The intervention aims to stabilize the yen after it hit a 40-year low against the dollar.
This development was anticipated in our earlier reporting. On Saturday, Aug 1, at 11:26 Jerusalem, we reported that a note photographed on the desk of US Treasury Secretary Scott Bessent read 'Buy $5-10 billion in yen,' citing Reuters via Abu Ali Express. Later that day, we reported that the Financial Times said the US Treasury had intervened to support the yen, and that Japan was expected to announce formal coordination with the US Treasury on Monday. The current report confirms that the anticipated joint intervention has now been launched.
As The Zioneer reported on Monday at 01:42 Jerusalem, President Trump said US support for the yen is a 'signal of friendship.' The yen has been under sustained pressure due to diverging interest rate policies between the Bank of Japan and the Federal Reserve, as we noted in our earlier coverage. The Bank of Japan raised its benchmark rate to 1% in June, the highest in three decades, according to our report on Tue Jun 16, 08:21 Jerusalem.
Details on the scale of the intervention and whether it will be sustained remain unconfirmed by official US or Japanese statements. The report from Insider Paper has not been independently verified by other newsrooms at this time.
5 developments
- DevelopingTrump says US support for Japanese yen a 'signal of friendship'
- DevelopingJapan signals readiness to join European sanctions relief on Iran
- DevelopingJapan begins steps to establish central intelligence agency, first since WWII — NYT
- DevelopingReport: Iran negotiates oil sales with Japanese firms for first time since 2019
Source and signal
- Open-source intake