US and Japan execute coordinated currency intervention to weaken dollar
US and Japan jointly intervened in currency markets, causing the dollar to fall to 156.34 yen.
Event / Economy
US-Japan Yen Intervention
The U.S. and Japan jointly intervened in currency markets to stabilize the yen, which had weakened to 40-year highs above 163 yen per dollar. Japan's Finance Ministry purchased yen in coordination with the U.S. Treasury Department, causing the dollar to fall approximately 1% to 156.34 yen following the official announcement.
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2026-08-14 to 2026-11-11 · UTC publication dates
Coverage begins 3 Aug, 06:22 UTC
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What happened
US dollar drops to 156.34 yen following market intervention announcement
The U.S. dollar weakened sharply against the Japanese yen on Monday, falling approximately 1% to 156.34 yen per dollar following the official announcement of joint market intervention. Prior to late the previous week, the dollar had been trading above 163 yen, reaching 40-year highs. After regulators were suspected of intervening, the rate fell below 160 yen before the official announcement caused the further drop.
US and Japan jointly intervene in currency markets to weaken dollar
U.S. President Donald Trump and Japan's Finance Minister Satsuki Katayama confirmed that both countries jointly intervened in foreign exchange markets. The Finance Ministry purchased yen in coordination with the U.S. Treasury Department to counter excessive volatility and disorderly movements in the Japanese yen. This marked the first overt joint intervention between the two countries in approximately 15 years.
Japan cites weak yen as driver of domestic inflation
Japan's weak currency against the dollar has been a persistent source of concern for Tokyo. Because Japan imports substantial portions of its consumption needs, a weaker yen increases import prices, which drives inflation. Earlier intervention efforts this year had minimal impact on the exchange rate before the joint U.S.-Japan intervention.
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