Japan and the US intervene to support weakening yen

Japan has conducted a joint foreign exchange market intervention with the United States for the first time in decades to stabilize the declining yen.

Japanese Finance Minister Satsuki Katayama confirmed the coordinated currency purchases, explaining that the intervention aimed to curb "excessive volatility and disorderly movements" in the exchange rate. Japanese authorities stated they remain in close consultation with Washington and are prepared to take further market measures if required. The joint action follows sustained downward pressure on the yen, which had fallen sharply against major global currencies in recent trading sessions.

Sources: ORF.