The United States and Japan have jointly intervened to support the yen in a rare coordinated move aimed at propping up the Japanese currency.
The action involved both countries working together to bolster the yen, marking an unusual instance of joint intervention in currency markets. The supplied material does not specify the timing, scale or precise mechanism of the intervention.
Both countries have indicated that further coordinated action remains possible. They said they would not hesitate to carry out joint interventions in the future, signalling that the latest move may not be a one-off if pressure on the yen continues.
The intervention is significant because coordinated currency action by major economies is described as rare. For now, the latest known position is that the US and Japan have acted together to support the yen and have left open the prospect of further joint measures.
