Japan confirms joint currency market intervention with US

Japan's finance minister said the ministry purchased the Japanese yen in coordination with the US Department of the Treasury last week. Finance Minister Katayama Satsuki released a statement confirming the joint intervention on Monday. It says the action was taken to counter excessive yen volatility in recent months.

The statement said the ministry remains in close communication with its US counterpart and adds that the monetary authorities will not hesitate to conduct further joint intervention. US Treasury Secretary Scott Bessent also confirmed that Japan and the US jointly conducted coordinated foreign exchange intervention on Friday.