Jul 31, 2026CORE

Japan and U.S. Conduct Joint Intervention to Support Yen

With the yen having fallen to 163.98 per dollar, its weakest level in about 40 years, Japan's Ministry of Finance bought yen in coordination with the U.S. Treasury. The yen subsequently strengthened to as high as 155.21 per dollar.

Sources

Yen gains sharply, dollar eases from two-week high
ReutersENSep 2, 2026News article
Statement by Ms. KATAYAMA Satsuki, Minister of Finance, Japan
Ministry of Finance, JapanENAug 3, 2026Official statement

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OngoingEconomy · 2022

Japanese Yen Weakness and Monetary Policy Normalization

Tracks Japan's response to persistent yen weakness from its first yen-buying intervention in 24 years in 2022 through the Bank of Japan's exit from negative rates, successive rate hikes, large-scale interventions in 2024 and 2026, and the 2026 joint U.S.-Japan intervention and prospect of further tightening.

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