US, Japan Jointly Intervene to Support Yen for First Time Since 1998, Driving Sharp Currency Rally

Published: Aug 3, 2026 18:47

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The US and Japan have jointly intervened in currency markets to support the yen for the first time since 1998, signaling a coordinated effort to curb the currency's prolonged weakness. The move lifted the yen sharply against the US dollar and raised expectations of further intervention if volatility persists, as authorities seek to stabilize markets amid global geopolitical tensions and interest rate divergence.

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