Finance Minister will officially announce coordinated Japan-U.S. action to curb yen depreciation on Monday, intervention efforts are not yet over

Odaily News  Japanese Finance Minister Katsunobu Kato will announce on Monday that Tokyo and Washington have taken coordinated action in the currency market to stem the yen's depreciation. Sources indicated that Kato is likely to emphasize both countries' resolve to counter the excessive weakening of the yen. The report noted that when asked whether Kato would announce a "coordinated action," one source gave an affirmative response, adding that "the operations are still ongoing."

Prior to this, market sources said that Japanese and U.S. authorities have conducted multiple rounds of yen-buying operations in the market, marking the first such coordinated intervention since 2011, aimed at boosting the yen from its lowest level against the dollar since 1986. (Reuters)