Japan and US Conduct Historic Joint Intervention to Support Yen Amidst Volatility

Japan has confirmed a historic joint intervention with the United States to support the struggling yen, marking the first such coordinated action in nearly 30 years. Japanese Finance Minister Satsuki Katayama stated on Monday that the intervention aimed to counter excessive volatility and disorderly movements in the Japanese currency, vowing further joint action if necessary. The yen subsequently strengthened by over 1% against the dollar following the announcement.