US‑Japan yen intervention lifts yen

In a rare joint move, the United States and Japan announced a coordinated foreign‑exchange intervention on August 2 to halt the yen’s slide against the dollar.

Treasury Secretary Janet Yellen and Japan’s Finance Minister Shunichi Suzuki said the two governments had acted together to stabilise the market after a week of volatile moves.

The intervention pushed the dollar‑yen exchange rate from a 12‑month high of 158 to below 152 within hours, and analysts expect the two economies will continue to cooperate on currency matters if pressure persists.