EL7.AI
ForexHigh ImpactUpdated×2•Originally published 2 August 2026•Updated 3 August 2026•
1 min read

Japan and US Set for Joint Currency Intervention to Support Yen

Portrait of a woman between maps of Japan and the US, with financial documents and a JPY support control panel.

Key Facts

1Japanese Finance Minister Satsuki Katayama is expected to announce coordination with Washington to curb yen weakness.
2Japanese authorities reportedly bought yen and sold dollars during New York trading on Friday.
3A leaked photo of US Treasury Secretary Scott Bessent's notepad revealed a plan to buy $5-10 billion in JPY.

In a move reflecting a strategic shift to counter currency market volatility, Japanese Finance Minister Satsuki Katayama is expected to announce formal coordination with Washington to curb yen weakness. According to reports, Japanese authorities have already intervened by buying yen and selling dollars during New York trading last Friday. These actions follow a period of extreme depreciation where the yen hit its weakest levels since 1986.

Leaked details from US Treasury Secretary Scott Bessent’s notepad revealed a specific plan to purchase between $5 billion and $10 billion worth of JPY, signaling a unified front. This rare joint intervention by G7 members aims to combat excessive currency declines and disrupt the profitability of yen-based carry trades that have dominated the financial landscape.

On the macroeconomic front, recent data shows US Durable Goods Orders grew by 0.3% in July, while the market continues to digest the Federal Reserve's decision on July 29, 2026, to maintain interest rates at 3.75%.