Japan's finance ministry on Monday confirmed that Tokyo and Washington had carried out coordinated intervention in the currency market to support the yen, marking the first joint action of its kind since 2011, Reuters reported.
The ministry said the joint yen-buying operation, conducted with the U.S. Treasury Department on Friday, was aimed at countering excessive volatility and disorderly movements in the Japanese currency after months of sustained weakness. It also signalled that both countries remain in close contact and are prepared to undertake further coordinated intervention if necessary.
