US and Japan execute coordinated intervention to rescue beleaguered yen

The United States and Japan have executed a highly coordinated intervention to rescue the beleaguered yen, driving the currency to its highest level since early May following direct market purchases and explicit support from US Treasury Secretary Scott Bessent. The yen closed in New York on Friday at 157.40 against the

CurrenciesCoordinated actions seen as joint effort to curb yen weaknessThe U.S. and Japan appear to have worked together to stem the yen's slide against the dollar. (Photo by Akira Kodaka)AKIRA YAMASHITA and YOSHIKAZU IMAHORIJuly 31, 2026 05:44 JSTLONDON/NEW YORK -- The Japanese government intervened in foreign-exchang