{"id":4163,"date":"2026-08-02T23:37:23","date_gmt":"2026-08-02T23:37:23","guid":{"rendered":"https:\/\/usmovingexpertss.com\/?p=4163"},"modified":"2026-08-02T23:37:23","modified_gmt":"2026-08-02T23:37:23","slug":"japan-to-vow-coordination-with-us-on-weak-yen-in-historic-battle","status":"publish","type":"post","link":"https:\/\/usmovingexpertss.com\/?p=4163","title":{"rendered":"Japan to vow coordination with US on weak yen in historic battle"},"content":{"rendered":"
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TOKYO – Japan is expected to announce on Monday that it took joint action with the U.S. to halt the yen\u2019s slide to 40-year lows and express its commitment to rare bilateral coordination that it hopes could mark a turning point for the currency.<\/p>\n

Read more U.S. joins Japan in coordinated effort to support yen<\/a><\/p>\n

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Preceding the expected announcement, President Donald Trump said on Sunday the United States is helping Japan to prop up the yen as a sign of friendship and to help the world economy.<\/p>\n

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\u201cThey have a weakening yen, and they wanted a little bit of help. And we\u2019re always there for Japan,\u201d Trump said when he was asked by a reporter why the U.S. is helping to support the yen.<\/p>\n

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\u201cJapan\u2019s been very good to us, with the exception, of course, of Pearl Harbor… It\u2019s also good for the world economy.\u201d<\/p>\n

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The dollar fell 0.2% to 157.07 yen after Trump\u2019s remarks.<\/p>\n

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Finance Minister Satsuki Katayama will announce on Monday morning that Tokyo and Washington acted together in the currency market last week to arrest what they consider excessive yen declines, two Japanese government officials told Reuters over the weekend, with one saying the operation was \u201cstill ongoing.\u201d<\/p>\n

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Her expected remarks to reporters follow what market sources say were rounds of yen purchases by the Japanese and U.S. authorities, the first joint intervention in 15 years, seeking to support the battered currency.<\/p>\n

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Japan has been struggling to curb a relentless drop in the yen that pushes up import prices and stokes broader inflation, hitting households\u2019 wallets and Prime Minister Sanae Takaichi\u2019s public approval ratings.<\/p>\n

Read more Five children among 2 dead, 6 hurt in York County crash near Lake Wylie<\/a><\/p>\n

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Japan may have sold as much as $58.97 billion to buy yen when it intervened in New York markets on Thursday, Bank of Japan data indicated, followed by another suspected foray into the market on Friday.<\/p>\n

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On Friday, the U.S. Treasury told a number of banks it too might intervene in the yen market, a source told Reuters, while Treasury Secretary Scott Bessent – who had said the yen \u201cseems very undervalued\u201d – had a handwritten \u201cTo Do\u201d list at a cabinet meeting that said, \u201cBuy Japanese Yen (JPY) $5-10 bil\u201d, a Reuters photo showed.<\/p>\n

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In line with Bessent\u2019s repeated calls for higher Japanese interest rates, the Bank of Japan on Friday offered its most explicit signal to date of an early rate hike, even as it kept monetary policy steady.<\/p>\n

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In a sign of broader policy coordination, South Korea stepped in to buy its won currency on Thursday.<\/p>\n

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The dollar ended Friday trading around 157.60 yen, having retreated from near 164 yen, the highest since 1986, which it hit earlier in the week.<\/p>\n

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Japan intervened in April and May, buying yen, causing only a brief rebound. The BOJ\u2019s June rate hike to a 31-year high of 1% also gave the struggling currency little lasting boost.<\/p>\n

Read more FBI vows \u2018thorough investigation\u2019 after deadly shooting at In-N-Out in Twin Falls<\/a><\/p>\n

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Copyright Reuters or USA Today via Reuters Connect<\/i><\/p>\n

<\/article>\n","protected":false},"excerpt":{"rendered":"

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