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A Japanese official said Japan’s Finance Minister will officially announce on Monday a joint Japan-U.S. action to curb yen depreciation, noting that the intervention is not yet over.

2 hours ago

Two Japanese government officials told Reuters that Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington have taken joint action in the currency market to halt the yen’s depreciation. Sources said Katayama is likely to emphasize the two countries’ resolve to counter excessive yen weakness. When asked if Katayama would announce the “joint action”, a source confirmed, adding that “the action is still ongoing”. Prior to this, market sources noted that Japanese and US authorities have carried out multiple rounds of yen-buying operations, marking the first such joint intervention since 2011, aimed at lifting the yen from its lowest level against the dollar since 1986. (Jinshi)

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