{"id":435222,"date":"2026-08-03T06:10:21","date_gmt":"2026-08-02T23:10:21","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/bessent-japan-confirm-fridays-joint-yen-intervention-vow-further-action-435222\/"},"modified":"2026-08-03T06:10:21","modified_gmt":"2026-08-02T23:10:21","slug":"bessent-japan-confirm-fridays-joint-yen-intervention-vow-further-action","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/bessent-japan-confirm-fridays-joint-yen-intervention-vow-further-action-435222\/","title":{"rendered":"Bessent, Japan confirm Friday&#8217;s joint yen intervention, vow further action"},"content":{"rendered":"<div>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Official confirmation from both US Treasury Secretary Bessent and Japan&#8217;s Ministry of Finance removes any ambiguity that had surrounded Friday&#8217;s suspected intervention, and the explicit pledge from both sides not to hesitate on further joint action signals a firm floor under the yen for now. Bessent&#8217;s comment backing Japan&#8217;s monetary and market steps to correct what he called substantial undervaluation aligns Washington directly with any accompanying BOJ rate move (<a href=\"https:\/\/investinglive.com\/central-banks\/boj-leaves-rates-unchanged-as-expected-vote-was-8-1\/\" rel=\"follow\">but not yet<\/a>!), reinforcing the narrowing rate-differential narrative that has been weighing on the dollar-yen pair. His call to upsize the FIMA repo facility in coming months points to a more durable, structural backstop being considered beyond one-off intervention, which could support sustained confidence in the yen rather than a temporary bounce. Traders will likely read the coordinated, on-record confirmation as reducing the risk of a quick reversal back toward the recent 40-year lows, though the durability of the move will depend on whether the BOJ follows through on rate hikes.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">&#8212;<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Washington and Tokyo have gone on record confirming Friday&#8217;s joint yen intervention and are promising more if needed.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Earlier heads up to this:<\/p>\n<ul>\n<li><a href=\"https:\/\/investinglive.com\/forex\/japan-s-finance-minister-will-confirm-joint-with-us-conducted-yen-intervention-on-monday\" target=\"_blank\" rel=\"follow\">Japan&#8217;s finance minister will confirm joint (with US) conducted yen intervention on Monday<\/a><\/li>\n<li><a href=\"https:\/\/investinglive.com\/forex\/trump-frames-yen-intervention-as-financially-beneficial-to-us\" target=\"_blank\" rel=\"follow\">Trump frames yen intervention as financially beneficial to US<\/a><\/li>\n<\/ul>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Summary:<\/p>\n<ul dir=\"ltr\" class=\"[li_&amp;]:mb-0 [li_&amp;]:mt-1 [li_&amp;]:gap-1 [&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3 print:block print:space-y-1\">\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Treasury Secretary Scott Bessent confirmed Friday&#8217;s coordinated foreign exchange actions countered disorderly yen movements<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Bessent said Treasury remains attentive and in close communication with counterparts at Japan&#8217;s MOF and the BOJ<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">He said the US will not hesitate to participate in further joint intervention<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Bessent said he strongly supports Japan&#8217;s decisive market and monetary steps to correct the yen&#8217;s substantial undervaluation<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">He called the FIMA repo facility an important backstop and encouraged it to be upsized in coming months<\/li>\n<li class=\"font-claude-response-body whitespace-normal break-words pl-2\">Japan&#8217;s Finance Ministry confirmed it conducted coordinated yen-buying intervention with the US on Friday and said it won&#8217;t hesitate to conduct further joint intervention, describing the move as addressing excessive and disorderly yen moves<\/li>\n<\/ul>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">US Treasury Secretary Scott Bessent and Japan&#8217;s Ministry of Finance have officially confirmed that Friday&#8217;s coordinated foreign exchange intervention was a joint operation between the two countries, with both sides pledging to act again if needed to counter further disorderly moves in the yen.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Bessent said the coordinated actions taken on Friday successfully countered disorderly yen movements, and that the Treasury remains attentive and in close communication with its counterparts at Japan&#8217;s Ministry of Finance and the Bank of Japan. He said the US would not hesitate to participate in further joint intervention, and voiced strong support for Japan&#8217;s decisive market and monetary steps aimed at correcting what he described as the substantial undervaluation of the yen. Bessent also pointed to the Federal Reserve&#8217;s FIMA repo facility as an important backstop supporting the effort, and said he would encourage it to be upsized in the coming months.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">Japan&#8217;s Ministry of Finance confirmed separately that it had conducted coordinated yen-buying intervention with the United States on Friday, characterising the action as a response to excessive and disorderly moves in the currency. The ministry said it would not hesitate to conduct further foreign exchange intervention alongside Washington if conditions warranted it.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">The confirmations follow reporting that the two countries had carried out their first joint yen intervention since 2011, after the currency slid to its lowest levels against the dollar since 1986. That earlier reporting indicated Japan sold as much as $58.97 billion to support the yen during New York trading hours, with the move coming shortly before the Bank of Japan signalled a strong chance of an imminent interest rate increase. Bessent&#8217;s explicit endorsement of Japan&#8217;s monetary steps alongside the currency intervention suggests Washington views the two tools as working in tandem, with the narrowing gap between US and Japanese interest rates seen as a key driver of the yen&#8217;s earlier weakness.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">With both Treasury and Japan&#8217;s MOF now on record confirming the joint action and signalling readiness to intervene again, attention turns to whether the yen can hold its recent stabilisation or whether renewed pressure will test the depth of that commitment in the weeks ahead.\u00a0<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal\" dir=\"ltr\">\n<\/p>\n<p>                            This article was written by Eamonn Sheridan at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Official confirmation from both US Treasury Secretary Bessent and Japan&#8217;s Ministry of Finance removes any ambiguity that had surrounded Friday&#8217;s suspected intervention, and the explicit pledge from both sides not to hesitate&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435222","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435222"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435222\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}