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U.S. and Japan Conduct Joint Yen Intervention to Stabilize Currency
The United States and Japan carried out a coordinated yen‑buying intervention on July 30‑31 2026, the first joint action of its kind since 2011 and the first since 1998 involving both governments. The operation involved roughly $36.6 billion in yen purchases, with the U.S. Treasury selling euros from its reserves and using the Federal Reserve’s FIMA Repo Facility – a $60 billion line of dollar liquidity – to fund the effort.
The intervention pushed the yen up from around ¥164 per dollar to roughly ¥155‑¥158, while the U.S. dollar weakened against the yen. U.S. Treasury Secretary Scott Bessent said the United States will do “whatever it takes” to support Japan’s yen stabilization, and he expressed confidence that the Bank of Japan, led by Governor Kazuo Ueda, may raise interest rates if needed. The move was also linked to broader market sentiment, including hopes for an Iran peace deal that eased safe‑haven demand for the dollar.
Entities
Bank of America · Bank of Japan · Donald Trump · Iran · Japan · Japan · Japan (government) · Japan Ministry of Finance · Japanese yen · Kazuo Ueda · President Donald Trump · Satoshi Katayama
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] A previously planned U.S. airstrike on Iran was cancelled after the agreement was reached.
- [● 2 SOURCES] The yen rose from about ¥164 per dollar to about ¥157.4 after the intervention.
- [● 5 SOURCES] Japan announced a joint U.S.–Japan yen‑buying intervention on March 3.
- [● 2 SOURCES] Trump said the United States reached an agreement with Iran on opening the Strait of Hormuz.
- [● 2 SOURCES] The United States and Japan coordinated a joint purchase of yen, with Treasury Secretary Scott Besson noting a $50‑100 billion buy‑back.
- [● 10 SOURCES] Treasury Secretary Scott Bessent had a handwritten note to buy $5‑10 billion of yen. www.japantimes.co.jp
- [● 5 SOURCES] The United States intervened in the yen market as a “signal of friendship” toward Japan.
- [● 2 SOURCES] Talks with Iran were scheduled to begin on the 3rd of the month.
- [○ 1 SOURCE] U.S. Treasury Secretary Scott Bessent met with Japanese officials in May 2026 to discuss currency policy.
- [○ 1 SOURCE] Metaplanet began adding Bitcoin to its corporate reserves as a hedge against yen depreciation.
- [○ 1 SOURCE] The yen rose to about 157.16 per U.S. dollar in early Sydney trading.
- [○ 1 SOURCE] Finance Minister Satsuki Katayama announced coordination with the U.S. Treasury on yen intervention.