US Dollar Weakens Sharply Against the Japanese Yen After Market Interventions
Officials said the coordinated move countered excessive yen volatility and could be followed by more intervention if needed.
- On Monday, the U.S. dollar weakened against the Japanese yen after President Donald Trump and Japanese Finance Minister Satsuki Katayama confirmed a coordinated yen-buying intervention to halt the currency's decline.
- Japan's Finance Ministry said the Friday intervention "countered excessive volatility and disorderly movements in the Japanese yen in recent months," as the currency had recently hit 40-year lows.
- Bank of Japan data indicated Tokyo may have sold as much as $58.97bn to buy yen during Thursday's New York market sessions, preceding the joint action with Washington.
- Treasury Secretary Scott Bessent confirmed Washington "will not hesitate to participate in further joint intervention," while Trump stated Sunday the U.S. is supporting Japan as a "sign of friendship."
- Bessent reiterated calls for higher Japanese interest rates, and the Bank of Japan offered its strongest signal yet of an early rate hike to support the currency's long-term stability.
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US President Donald Trump has described US support for the Japanese yen as a sign of friendship.
Donald Trump confirmed on Sunday that the United States had intervened to support the yen in the foreign exchange market, a "gesture of friendship" with Japan according to the US president, also "good for the world economy". ...
The Financial Times stated that "the New York Federal Reserve has (will) made an unusual decision to sell euros to buy yen on behalf of the Treasury" on Friday, in coordination with Tokyo. Information confirmed by Donald Trump who defends "(have) a good relationship with Japan"Donald Trump confirmed on Sunday that the United States had intervened to support the yen, a "gesture of friendship" with Japan according to the US President, also "good f…
El Paso Inc.
Mid Florida NewspapersAsian stocks are mixed as yen jumps against the dollar, while oil prices
Asian shares are mixed after the U.S. and Japan confirmed they had acted to prop up the value of the Japanese yen against the U.S. dollar. Oil prices fell sharply after U.S. President Donald Trump said he would order U.S.…
Global Market: Japan, US confirm coordinated yen intervention to stem currency slide
Japan's finance ministry confirmed that Tokyo and Washington jointly intervened in currency markets to support the yen for the first time since 2011. The coordinated move underscores both governments' resolve to curb excessive currency volatility, though analysts remain cautious about its long-term impact.
They engaged in coordinated yen buying.
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