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Japan and U.S. Buy Yen in August, First Joint Move Since 1998

8/13/2026

26 4 Full Breakdown

Summary

Story summary

Japan and the United States bought yen in August 2026, marking the first joint purchase since 1998.
Treasury Secretary Scott Bessent said the United States will continue supporting Japan after the intervention.
Monex Group’s Jesper Koll noted the yield gap stayed at 4.686% versus 2.846% despite the purchase.
Lombard Odier’s John Wood warned the effect may be brief and that the Bank of Japan could need two more rate hikes.

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Story summary

Japan and the United States bought yen in August 2026, marking the first joint purchase since 1998.
Treasury Secretary Scott Bessent said the United States will continue supporting Japan after the intervention.
Monex Group’s Jesper Koll noted the yield gap stayed at 4.686% versus 2.846% despite the purchase.
Lombard Odier’s John Wood warned the effect may be brief and that the Bank of Japan could need two more rate hikes.