US-Japan joint effort to stabilize yen
Japan and the United States are both planning to announce coordinated steps to intervene in the foreign exchange market, aimed at reducing the yen's weakness, which has reached its highest level since 1986 at around 164 yen per dollar. This coordination includes for the first time since 2011 direct intervention to support the Japanese currency, with Japanese authorities purchasing yen and selling dollars, while the U.S. Treasury also bought yen through the Federal Reserve. This helped push the dollar down to about 157.6 yen before the close of the American markets. These measures are part of efforts to bolster investor confidence in Japan's growth strategies and to stabilize the market amid pressures from a strong dollar and a weakening yen.
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