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US and Japan Team Up to Buy Yen | Auckland News
The U.S. and Japan surprise the world by jointly buying Japanese yen — a rare move in over a decade — to halt its 40-year low against the dollar, driven by soaring energy costs and inflation fears. President Trump frames it as a “signal of friendship,” while Treasury Secretary Scott Bessent backs Japan’s push to counter “excessive volatility” and calls the yen “substantially undervalued.” With a rumored $5-10 billion target, the intervention aims to stabilize Japan’s currency, which has been pressured by ultra-low interest rates, overseas investments, and global capital flows. Analysts remain…
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