US‑Japan intervene to prop up yen, markets react

The joint statement highlighted that the intervention was aimed at curbing excessive yen weakness that threatened import‑price stability in Japan.

The move was welcomed by Asian markets but caused a brief sell‑off in oil futures, as traders recalibrated expectations for a weaker dollar.

Analysts noted that such direct coordination between the U.S. and a major Asian economy is rare and could set a precedent for future currency‑stability actions.