US and Japan Coordinate Rare Currency Intervention to Stabilize Yen
The intervention, which saw the yen rebound from 163.73 to 157.57 per dollar, was driven by dual concerns: safeguarding U.S. Treasury markets and reinforcing Japan’s financial system. Louise Loo, head of Asia economics at Oxford Economics, highlighted that Washington feared Japan might resort to selling U.S. Treasuries to fund unilateral intervention, risking destabilization of the … Read more