Japan and U.S. Coordinate Yen Intervention
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Insights by Echo AI
The Bank of Japan (BOJ) intervened in the foreign exchange market to prop up the yen, buying the currency for the first time in three months. The U.S. Treasury Department joined the effort, informing banks of possible yen intervention on Friday and conducting a sale of euros to buy yen through Goldman Sachs and Morgan Stanley. This marks the first direct U.S. intervention to buy yen in coordination with Japan in more than a decade.
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Bank of Japan is still intervening https://t.co/1xuFJL6qG2
Bank of Japan intervenes again to save the Yen 🇯🇵📈 https://t.co/eSrYr8...
Japan likely intervened to prop up yen, with possible help from U.S. A...
Japan likely intervened to prop up yen, with possible help from U.S. A...
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