U.S. Joins Japan in Rare Yen-Buying Intervention as Washington Moves to Curb Currency’s Slide to Four-Decade Low - Tekedia

U.S. authorities were reported to have bought yen through the New York Fed, joining Japan in currency support.

If confirmed, it would be the first U.S.-backed yen intervention since 2011.

The yen had hit a multi-decade low against the dollar before rebounding sharply on the reports.

The move underscores growing concern about imported inflation in Japan and broader market instability.