United States and Japan jointly support yen currency in rare intervention

The United States and Japan jointly bought yen on July 31, 2026, to stop the currency from falling further. President Trump confirmed the action on August 3. The Federal Reserve Bank of New York sold euros and used the money to buy yen. Before the intervention, the yen had dropped to its lowest level in 40 years. The two countries had not worked together like this since 1998. Japan spent an estimated 6 to 8.45 trillion yen, around $52.8 billion, on the operation. After the intervention, the yen rose from 164 to 157 per dollar, its strongest level in three months. Trump called the move a "signal of friendship" and said it would help the global economy.