Key facts
- Japan and the U.S. jointly intervened in the currency market to support the yen.
- This is the first coordinated intervention by the two nations since 2011.
- The yen had reached a 40-year low against the dollar before the intervention.
- President Donald Trump said Japan requested U.S. assistance for the intervention.
Japan and the United States carried out a coordinated intervention to bolster the yen on Friday, marking the first such joint action by the two nations since 2011, according to government sources. The intervention came as the yen was trading near a 40-year low against the dollar. President Donald Trump stated that Japan had requested assistance from the U.S. for this move, characterizing the intervention as a signal of friendship. The yen's significant depreciation prior to the intervention had raised concerns about its economic impact.