Intervention

Japan spent 15.4 trillion yen ($96.4 billion) on foreign exchange interventions between July 30 and August 26. This record monthly expenditure reflects the government's determination to curb the yen's depreciation.

Washington and Tokyo carried out their first joint intervention in the foreign exchange market in years. The move involved selling euros and buying yen, an unusual step intended to support the Japanese currency without weakening the dollar.

The US and Japan took coordinated action to support the yen, strengthening the Japanese currency by over 1%. This marks the first joint intervention by Washington and Tokyo in nearly 30 years.