Japan and the United States announced on Aug. 2 that they coordinated purchases of the yen on July 31 to curb the currency’s volatility on the currency market.
In a statement, Japan’s Finance Ministry said it coordinated with the U.S. Treasury Department to address “excessive volatility and disorderly movements of the yen” in recent months.
The ministry said it remains in close communication with its U.S. counterparts and “will not hesitate to conduct further joint intervention.”
President Donald Trump told reporters aboard Air Force One on Aug. 2 that the coordination reflected the close relations between the two countries, calling it “a signal of friendship.”…
US, Japan Coordinate Currency Intervention to Stabilize Yen
