Japan Spent ¥11.7 Trillion Defending the Yen. It Wasn't Enough.

Japan bought ¥11.7 trillion ($75 billion) in yen from April 28 through May 27, 2026, the Ministry of Finance disclosed. The currency still hit 40-year lows. Tokyo then secured U.S. Treasury backing for a rare joint intervention, confirmed August 3. The Bank of Japan's 1.0% policy rate — far below U.S. rates — left a gap no single central bank could close.