Economic TimesLean R·
Yen holds gains after Japan, US confirm joint intervention, signal more action
Japan and the United States intervened jointly to support the Japanese yen currency. This rare action aimed to prevent further declines and global economic spillovers. Central bank data suggests Japan spent billions of dollars during the intervention. Officials vowed to take further coordinated action if needed to stabilize the yen. The intervention follows recent solo actions by Japan to prop up its currency.
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