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US, Japan Conduct First Joint Yen Intervention Since 1998

8/4/2026

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Summary

Story summary

The United States and Japan jointly intervened on Friday, buying yen in the first coordinated operation since 1998.
The yen fell to ¥163.73 per dollar, then rose to about ¥157.5 after Japan sold $59 billion of dollars and the United States planned to buy $5-10 billion of yen.
Analysts said the action trimmed short yen positions of $12.5 billion but warned lasting strength will need the Bank of Japan to raise rates.

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Story summary

The United States and Japan jointly intervened on Friday, buying yen in the first coordinated operation since 1998.
The yen fell to ¥163.73 per dollar, then rose to about ¥157.5 after Japan sold $59 billion of dollars and the United States planned to buy $5-10 billion of yen.
Analysts said the action trimmed short yen positions of $12.5 billion but warned lasting strength will need the Bank of Japan to raise rates.