Japan and US confirm joint yen-buying intervention, signal more action

Japan and the United States have confirmed a coordinated yen-buying intervention, with Japan's finance ministry indicating readiness for further action to halt the yen's slide to fresh 40-year lows. This rare bilateral move aims to prevent the yen's depreciation and a sell-off in Japanese government bonds from causing global spillovers, such as increasing pressure on rising US Treasury yields. The dollar fell to 155.20 against the yen following the confirmation of the intervention.