U.S.-Japan Yen Intervention May Reshape Global Currency Markets
The U.S. and Japan have conducted a joint intervention to support the yen, marking the first such operation since 1998. This intervention, backed by Washington, was executed using the euro-yen cross and included explicit political support. The move is seen as a significant step in foreign exchange management, with both countries deploying public balance sheets to influence market psychology. The intervention aims to deter market speculation against the yen by raising the cost of such bets. 
