Yen gives up nearly half of gains from joint US-Japan market intervention

Investors say lack of global unity has undermined historic effort to prop up Japanese currency

CurrenciesDeclining confidence in Tokyo's economic agenda keeps currency under pressureCoordinated intervention by Japan and U.S. central banks is proving to have limited effectiveness. (Nikkei montage/source photos by AP)YOSHINARU SAKABEAugust 8, 2026 06:38 JSTTOKYO -- Last week's market intervention by Japan and the

U.S. and Japanese officials have warned investors they're determined to keep defending the yen if needed.