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to MoroccoIsraeli strikes continue in Gaza as disarmament roadmap stallsChinese chip advances trigger week of global market swingsDrone strikes kill nine in Russia as Ukraine says it hit Saratov refineryIran says Hormuz route talks with Oman near completion as US blockade holdsRights group blames Sudan's army for drone strike on Darfur courtOPEC+ completes rollback of 2023 oil output cutsRosatom reports drone strike meters from Zaporizhzhia reactor buildingTwo water-bomber pilots killed as wildfire destroys homes near AthensAstraZeneca held talks on $400bn Bristol Myers mergerBrent falls below $82 as US holds off on Iran strikesSuicide bomber kills 14 at Pakistani police stationHungary shuts sole nuclear plant as Danube hits record lowEU labelling duty for AI-generated content takes effectBomb kills three at central Moscow restaurantChina drills at Scarborough Shoal and warns Manila of a 'head-on blow'Hackers hit US water systems in at least seven statesUS-backed Venezuela transition talks set to openWildfires around Spokane force 60,000 to evacuateAI funding boom shows signs of strainBeijing draws 'red lines' before trade talks with EU and USIsrael ties Lebanon deal to Hezbollah disarmament after Kafra blastGunmen kill 12 in Nigerian village and seize churchgoersUS restores part of its vaccine and health aidLula launches bid for fourth term against Bolsonaro's sonChina flash flood death toll rises to 25Israeli forces push into Syria's Quneitra provinceEU naval force boards sanctioned Russian shadow-fleet tankerAI policy groups demand federal probe into OpenAI breachModi speeds up informal Indo-Pacific bloc to counter ChinaOrtega scraps elections to cement family rule in NicaraguaUS weighs transfer of Patriot production technology to UkraineTaiwan warns China's hybrid warfare tests whole regionUS troop movements in Iraqi Kurdistan raise drawdown questionsKremlin pushes more Russian men into fighting in UkraineUK farmers warn drought could cause food shortagesTürkiye updates military readiness for Cyprus after UN chief's visitChina's private factory gauge shows weaker growthUS Senate leaders reach funding deal to avert shutdownPaul Weiss's capitulation reshaped US legal resistance to TrumpThird suspect arrested as more graves surface in Zubin PotokUS health secretary tells families to vaccinate against measlesPakistan applies for $10bn US forex facilityStorm leaves two dead and 180,000 without power in ChileMonte dei Paschi explores Banco BPM takeover as Rome plans exitLebanon weighs consequences of Salameh arrestIran-linked Foxtrot network recruits teenagers in EuropeBus collision kills eight in central Tanzania
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Symbolic image: Yen strengthens after joint Japan-US currency interventionSymbolic image

Yen strengthens after joint Japan-US currency intervention

11 sources

Japan and the United States intervened jointly on the currency market last week to support the yen. It was their first joint operation of this kind since 2011, according to Nikkei Asia.

What happened

  • Nikkei Asia dates the operation to Friday, 31 July, and reports it as coordinated between Tokyo and Washington.
  • Trump publicly confirmed the joint intervention, Handelsblatt and Bloomberg reported on Monday.
  • The yen has since climbed to 155 per dollar, with traders on alert for a repeat (Nikkei Asia).
  • Bloomberg reports that bearish positions against the yen now face unwinding risk.

The view from outside

German and British coverage centred less on the market move than on its status and durability: Handelsblatt reported the joint support on Sunday, 2 August only as apparent and led a day later on Trump's confirmation, while the Financial Times focused on the prospect of a repeat operation.

What could happen next

  • Open whether the yen holds near 155 without further buying; Nikkei reports traders positioned for another operation.
  • Volume, funding and mechanics of Friday's operation are not given in the available reports, all of them teaser-length.
  • A second joint operation would test how far Washington's support goes beyond a one-off signal.
How the camps see it

  • Japan: Tokyo says it will not hesitate to act again together with Washington if needed, according to Katayama, cited by Nikkei Asia and the Financial Times.

  • United States: Trump calls the US role in the yen intervention a signal of friendship, while Bessent warns of further joint action (Bloomberg).

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