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

Japan spent ¥11.7 trillion buying yen April–June 2026, then joined the U.S. for a coordinated intervention on July 31. Goldman Sachs called it the largest such effort in 15 years. Schwab's Michelle Gibley said the joint action slowed but didn't stop yen weakness — meaning the currency kept sliding despite the firepower deployed.