U.S. and Japan Spend $59 Billion Defending the Yen — First Joint Action Since 2011

Japan's Ministry of Finance and the U.S. Treasury jointly bought yen on August 1, 2026, spending up to $58.97 billion. The yen sat near 40-year lows at 159.22 per dollar. Treasury Secretary Bessent called the moves "disorderly." Tokyo vowed further action if needed.