Japan's Finance Ministry confirmed on Monday that it carried out a coordinated yen-buying intervention with the U.S. Treasury on Friday, according to CNBC.
Key facts
- Japan's Finance Ministry confirmed a coordinated yen-buying intervention, according to CNBC.
- The intervention was conducted with the U.S. Treasury on Friday.
- The confirmation was made on Monday.
Japan’s Finance Ministry said on Monday that it conducted a coordinated yen-buying intervention alongside the U.S. Treasury on Friday, according to CNBC.
The move marks a joint effort between Tokyo and Washington in foreign exchange markets, with the two governments acting together on the intervention.
The Finance Ministry’s confirmation on Monday made public the operation that had taken place at the end of the previous week.
Further details of the operation, including its scale and any plans for additional action, were not specified in the available reporting.
Why it matters
Coordinated currency intervention between two major economies is a notable step that can affect exchange rates, trade and investors. The full scope of the operation and whether further action will follow are not yet clear from the available reporting.
Frequently asked questions
When did the yen intervention take place?
According to Japan's Finance Ministry, the coordinated yen-buying intervention was conducted on Friday, and the ministry confirmed it on Monday.
Which countries were involved?
The intervention was a coordinated effort between Japan's Finance Ministry and the U.S. Treasury.
Could there be more intervention?
Officials signaled a readiness for more, according to CNBC, though no further specifics were provided in the source.