Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington jointly intervened in currency markets to halt the yen's slide to 40-year lows, two Japanese government officials told Reuters exclusively. Katayama is expected to stress that both governments are prepared to counter what they view as excessive declines in the Japanese currency, with one official confirming the announcement would refer to "joint action" and saying the operation remained ongoing. The move would mark the first coordinated currency intervention by Japan and the U.S. since 2011, after the yen fell to its weakest level against the dollar since 1986. Japan carried out yen-buying and dollar-selling operations during New York trading hours on Thursday, shortly before the Bank of Japan left monetary policy unchanged on Friday but signalled a strong possibility of raising interest rates soon. Evidence of Washington's involvement emerged when U.S. Treasury Secretary Scott Bessent was photographed with a notepad listing a task to purchase between $5 billion and $10 billion worth of yen, and the U.S. Treasury separately informed several banks on Friday that it could intervene and instructed them to be prepared for further action.
Sony Group CorporationYen strengthening from intervention may benefit Sony's overseas earnings when converted to yen
Honda Motor Co., Ltd.Yen strengthening from intervention may benefit Honda's overseas earnings when converted to yen