cnbc_topnews

U.S., Japan confirm coordinated yen intervention, signal readiness for more

📰 source: cnbc_topnews · 💼 business

japan's finance ministry said monday it conducted a coordinated yen-buying operation with the u.s. treasury on friday — a rare joint move to stem sharp swings. the yen had hit 163.73 per dollar thursday, then strengthened to 157.57 friday. it traded around 157.70 on monday.

tokyo said it won't hesitate to intervene again, citing a joint statement from september 2025. finance minister satsuki katayama stressed close communication with the u.s. treasury. the ministry also plans to use the fed's fima repo facility to access short-term dollars. treasury secretary scott bessent confirmed the action, saying it countered disorderly yen movements, and said the u.s. "will not hesitate" to join further intervention. president trump called it a "signal of friendship."

some observers are skeptical. robin brooks of the peterson institute said the move could weaken confidence in the yen if washington sold euros rather than dollars to fund the intervention, leaving markets wondering why the u.s. didn't use dollars.

why it matters: coordinated intervention shows u.s. backing for yen, but unusual funding could raise doubts about its durability.

source: cnbc_topnews
sentiment: +0.20 · impact: 0.75

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Surprise fall in US jobs last month as slow summer continues

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