Why US, Japan Intervene To Boost Yen For First Time Since 1998

The US and Japan have jointly intervened to prop up the Japanese yen for the first time since 1998. This unprecedented action highlights a strong determination to defend the Asian currency. Investor sentiment has been further impacted by concerns regarding Japan's public finances and the recent implementation of a sales tax cut on food and drinks. This joint effort marks the first such coordination between the two nations in fifteen years.