FX.co ★ Yen Extends Rally as Japan Confirms Intervention

The Japanese yen strengthened toward 155 per dollar on Monday, extending its rally to about 5% over three sessions, after the Finance Ministry confirmed it had conducted coordinated yen-buying operations with the US Treasury last week following the currency’s slide to 40-year lows. Japanese authorities also warned that they stand ready to carry out further coordinated interventions if necessary, stressing that they remain in close contact with their US counterparts. US Treasury Secretary Scott Bessent confirmed the joint action aimed at countering disorderly moves in the yen, while President Donald Trump earlier stated that the US participated in last week’s coordinated intervention as a show of support for Japan and to help safeguard global economic stability. The yen had sunk to four-decade lows last month amid pressure from elevated energy costs, growing fiscal concerns, and persistently wide interest rate differentials.