- Japan's Finance Ministry said it conducted a coordinated yen-buying operation with the U.S. Treasury on Friday, a rare joint move to address excessive volatility and disorderly yen movements.
- The yen strengthened from 163.73 per dollar on Thursday to 157.57 on Friday after the intervention and traded at 157.70 on Monday.
- Japanese and U.S. officials said they remain in close communication and will not hesitate to conduct further coordinated intervention.
- Japan also announced plans to use the Federal Reserve's FIMA repo facility, which provides short-term dollars against U.S. Treasury securities.
Quotes
“Friday’s coordinated foreign exchange actions countered disorderly yen movements.”
“We will not hesitate to participate in further joint intervention”
“will not hesitate to conduct further coordinated interventions in the future”