U.S. and Japan Team Up to Prop Up the Yen — First Time in Over a Decade

On August 1, 2026, the U.S. and Japan spent up to $58.97 billion buying yen to push its value up after it fell near 40-year lows — 159.22 yen to one dollar. Treasury Secretary Bessent called the market "disorderly." Tokyo pledged more action if needed.