Japan and U.S. confirm joint yen intervention

On 2 August 2026, Japan and the United States confirmed a joint yen-buying intervention in currency markets. Katayama said Japan is coordinating with the US to curb yen weakness and will not hesitate to act again. Both countries signaled more action, and the yen held its gains after the confirmation. Yen traders were bracing for more intervention with the US at Japan's side.