Story perspectives

Japan, U.S. Buy $53 B Yen, Dollar Falls to 157.4

8/3/2026

Summary

Story summary

Japan and the United States intervened in foreign-exchange markets on 2 August 2026, buying yen.
President Donald Trump called the move a “signal of friendship” that would benefit the United States.
Treasury Secretary Scott Bessent said action countered “disorderly” yen movements and Washington would not hesitate to act again.
Finance Minister Satsuki Katayama confirmed Japan bought about 8.45 trillion yen (?$52.8 billion) and the yen rose to 157.40 per dollar, strongest since early May.

History

Historical Context

The 1985 Plaza Accord, signed by Treasury Secretary James Baker, Japan’s Noboru Takeshita and Germany’s Gerhard Schröder, forced a $2.5 trillion FX intervention that pushed the yen to ¥150 per dollar. The 1987 Louvre Accord then aimed to halt the dollar’s decline. In August 2026, Treasury Secretary Scott Bessent and Finance Minister Satsuki Katayama bought ¥8.45 trillion, echoing the earlier coordinated-policy model.

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Story summary

Japan and the United States intervened in foreign-exchange markets on 2 August 2026, buying yen.
President Donald Trump called the move a “signal of friendship” that would benefit the United States.
Treasury Secretary Scott Bessent said action countered “disorderly” yen movements and Washington would not hesitate to act again.
Finance Minister Satsuki Katayama confirmed Japan bought about 8.45 trillion yen (?$52.8 billion) and the yen rose to 157.40 per dollar, strongest since early May.

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