US and Japan take action to prop up yen in rare joint move

Japan and the US have confirmed that they jointly intervened last week to halt a slide in the yen after it weakened to a fresh 40-year low.

The joint intervention is the first since 2011, when both countries took coordinated action to weaken the yen after the devastating earthquake and tsunami that hit eastern Japan.

Both Japan's Ministry of Finance and US Treasury Secretary Scott Bessent have said that they will not hesitate to conduct more joint interventions in the future.