Japan and the US have confirmed they joined forces to prop up the yen after the currency fell to a 40-year low.
The ******* anese government said on Monday it had taken action to counteract "excessive volatility and disorderly movements in recent months" after the US treasury bought the currency for the first time in 15 years.
The yen surged more than 1pc to 155.20 per dollar, its strongest since early May, after the rare joint intervention. The yen had previously sunk to its lowest price against the US dollar since 1986.
It is the first time the US has bought up the yen since 2011 following the devastating earthquake in eastern ******* an.
Donald Trump said on Sunday that the US was helping ******* an support its currency as a sign of friendship and to help the world economy.
#first
The ******* anese government said on Monday it had taken action to counteract "excessive volatility and disorderly movements in recent months" after the US treasury bought the currency for the first time in 15 years.
The yen surged more than 1pc to 155.20 per dollar, its strongest since early May, after the rare joint intervention. The yen had previously sunk to its lowest price against the US dollar since 1986.
It is the first time the US has bought up the yen since 2011 following the devastating earthquake in eastern ******* an.
Donald Trump said on Sunday that the US was helping ******* an support its currency as a sign of friendship and to help the world economy.
#first
3 months ago
