Japan's Ministry of Finance said on Friday that it spent a record ¥15.4 trillion (about $96.4 billion) on currency intervention between July 30 and August 26, in a bid to shore up the yen after the currency tumbled to its weakest level in four decades.
The figures underline Tokyo's growing willingness to take tougher measures to support the yen. The intervention also had Washington's backing, sending a clear warning to speculators betting against the Japanese currency.
Finance Minister Katsunobu Kato and U.S. Treasury Secretary Scott Bessent confirmed in early August that the two countries had carried out coordinated intervention on July 31. Both officials said they stood ready to re-enter the market without hesitation should the need arise.
The U.S. contribution was not included in Japan's official data. It is expected to be smaller in scale, but its symbolic weight is arguably more significant. (Source: Jinshi)