Key facts
- Japan and the U.S. conducted a coordinated currency intervention on Friday.
- This is the first joint intervention by the two countries since 2011.
- The action was taken to stem the yen's rapid depreciation.
- The yen strengthened significantly on Friday following the intervention.
Japan and the U.S. have increased their coordinated efforts to counter the yen's rapid depreciation. On Friday, the two nations conducted a joint intervention in the foreign exchange market, the first such collaborative action since 2011. This move aimed to stabilize the yen's value. Following the intervention, the yen experienced a notable surge, reaching its highest level since mid-May.