🔺Japan and the United States confirmed a joint intervention to strengthen the yen; a warning about further actions

▪Japan’s Ministry of Finance announced that Tokyo and Washington have intervened in the foreign exchange market in a coordinated manner to buy the yen and that, if severe fluctuations continue, they will not refrain from taking further joint actions. This is the first joint intervention by the two countries since 2011 and is aimed at preventing the yen’s value from falling to its lowest level in the past four decades.