{"id":581529,"date":"2026-08-03T09:44:11","date_gmt":"2026-08-03T09:44:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/581529\/"},"modified":"2026-08-03T09:44:11","modified_gmt":"2026-08-03T09:44:11","slug":"yen-hits-three-month-high-after-trump-helps-prop-up-currency-yen","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/581529\/","title":{"rendered":"Yen hits three-month high after Trump helps prop up currency | Yen"},"content":{"rendered":"

The yen has hit its highest level in three months after Japan and the US<\/a> launched a combined operation to support the Japanese currency.<\/p>\n

The yen strengthened to \u00a5155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week.<\/p>\n

Tokyo\u2019s finance ministry said on Monday the two governments had conducted coordinated yen-buying intervention and would not hesitate to take further action.<\/p>\n

The intervention came after the yen had weakened to a 40-year low of almost \u00a5164 to the dollar last week.<\/p>\n

Donald Trump told reporters on Sunday: \u201cThey have a weakening yen, and they wanted a little bit of help. And we\u2019re always there for Japan<\/a>.\u201d<\/p>\n

The yen had weakened in recent months as Japanese borrowing costs remained lower than in other advanced economies. This disparity fuelled a so-called \u201ccarry trade\u201d, in which investors borrowed cheaply in yen to buy higher-yielding dollar assets.<\/p>\n

The yen has also suffered from investors\u2019 concern about Japanese prime minister Sanae Takaichi\u2019s push to use tax and spending measures to stimulate the Japanese economy<\/a>, and her criticism of the Bank of Japan setting higher interest rates, which have also pushed up the country\u2019s borrowing costs.<\/p>\n

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The US Treasury secretary, Scott Bessent, said Washington \u201cwill not hesitate to \u2060participate in further joint intervention\u201d, while repeating calls for further interest rate rises from Japan\u2019s central \u200bbank. On Saturday, a photograph of Bessent\u2019s notebook taken during a cabinet meeting showed<\/a> that his \u201cto do\u201d list included buying $5bn-$10bn \u2060worth of Japanese yen.<\/p>\n

This is the first collaboration involving Japan and the US since March 2011 when a joint intervention was made to weaken the yen after the March Tohoku earthquake and tsunami.<\/p>\n

Lee Hardman, a currency analyst at MUFG bank, said: \u201cThe threat of further joint intervention and a faster pace of BoJ hikes should provide more support for the yen, and discourage speculators from running elevated short yen positions.\u201d<\/p>\n

The consultancy Oxford Economics<\/a> said the US-Japan coordinated intervention would not be enough to reverse the trend of yen weakness.<\/p>\n

\u201cDespite rising market speculation about faster rate hikes by the Bank of Japan, we continue to assume the central bank waits until December because the intervention reduces the risk of a sharp yen depreciation and gives the BoJ more time to assess the impact of the Middle East conflict and past rate hikes on the economy,\u201d it said.<\/p>\n","protected":false},"excerpt":{"rendered":"The yen has hit its highest level in three months after Japan and the US launched a combined…\n","protected":false},"author":2,"featured_media":581530,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-581529","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/581529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=581529"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/581529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/581530"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=581529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=581529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=581529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}