Japanese Official: Finance Minister to Officially Announce Japan-US Joint Action on Monday to Restrain Yen Depreciation, Intervention Efforts Not Yet Concluded

BlockBeats News, August 2nd - Two Japanese government officials told Reuters that Japanese Finance Minister Okazaki will announce on Monday that Tokyo and Washington have taken joint action in the currency market to prevent the yen from depreciating. Sources said Okazaki is likely to emphasize the two countries' determination to combat the excessive devaluation of the yen. The report noted that when asked if Okazaki would announce "joint action," a source gave an affirmative answer and added that "the action is still ongoing."

Prior to this, market sources said that Japanese and U.S. authorities had conducted multiple rounds of yen buying operations in the market, marking the first such joint intervention since 2011, aimed at boosting the yen's rebound from its lowest level against the dollar since 1986. (KinJo)