Why America backed the yen for the first time in years

The United States has, for the first time since 2011, announced direct intervention to support the Japanese Yen, purchasing yen totaling between 5 to 10 billion dollars in coordination with Japan. The aim is to curb its ongoing decline and ensure stability in the financial markets. This intervention comes after the dollar reached unprecedented high levels against the yen, hitting around 164 yen in recent weeks — the highest since 1986 — while the Japanese currency depreciated to about 157.6 yen following the announcement. Washington and Tokyo plan to announce a joint policy next week to address the weakness of the yen, warning speculators who bet on the yen's decline in an effort to restore confidence and stability in the financial markets.

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