Joint yen-buying intervention strengthens yen
Analysis based on 12 articles · First reported Aug 02, 2026 · Last updated Aug 03, 2026
The coordinated intervention boosted the yen and pressured the dollar, impacting global currency markets and trade competitiveness. The dollar index slid over 1.5% last week, and further volatility is expected as traders watch for additional intervention and upcoming US economic data.
On August 3, 2026, the Japan — Japanese yen surged 1% to an intraday high of 156.01 per US dollar, following a more than 3% rally over the previous two sessions. This move was driven by confirmed joint yen-buying intervention by Japan's Ministry of Finance and the US Treasury, with Japan — Bank of Japan data indicating purchases of up to $58.97 billion on Thursday. The intervention, the first coordinated US-Japan FX action since 1998, aimed to shore up the historically weak yen. The dollar weakened broadly, with the euro hitting a 1-1/2-month high and sterling near a two-week top. Analysts expect further intervention if the yen unwinds its gains. The event also saw oil prices fall after President Donald Trump called off an attack on Iran, adding to dollar pressure. Market focus now turns to US nonfarm payrolls data for clues on United States — Federal Reserve policy.
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