U.S. and Japan Ran Largest Coordinated Yen Intervention in 15 Years

Japan's Ministry of Finance confirmed ¥11,734.9 billion in yen-buying intervention from April–June 2026, plus a separate coordinated operation with the U.S. on July 31. Goldman Sachs called it the largest such effort in 15 years. Schwab director Michelle Gibley noted the joint action slowed but did not stop yen weakness.