U.S. and Japan Coordinate Foreign Exchange Intervention for First Time Since 1998, Yen Supported

According to iM Securities, the U.S. Treasury and Japan undertook coordinated foreign exchange market intervention on July 30-31 to support the yen. Japan's single-day intervention on July 30 reached approximately 6 to 8.5 trillion yen, while the U.S. Treasury engaged in approximately 5 to 10 billion dollars worth of yen purchases. This marks the first joint intervention since 1998.
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