America's role in supporting the yen

The United States and Japan jointly intervened to support the Japanese yen for the first time since 2011, aiming to address its sharp decline that had pushed it to its lowest levels in forty years. The depreciation was hampering the competitiveness of American exports, increasing import costs, and affecting the US Treasury bond market. The intervention followed months of coordination and resulted in a temporary rise in the yen's value. Japan plans to raise interest rates in September to sustainably counter the currency's weakness, amid increasing economic pressures on the Japanese government.

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