\n The United States bought the Japanese yen for the first time in more than a decade as \u201ca signal of friendship,\u201d President Donald Trump said Sunday. The rare bilateral intervention in Japan\u2019s currency market was designed to prop up the yen from its 40-year low against the dollar.\n <\/p>\n
\n \u201cThey have a weakening yen, and they wanted a little bit of help. And we\u2019re always there for Japan,\u201d Trump told reporters aboard Air Force One.\n <\/p>\n
\n Trump\u2019s comments come after the Financial Times reported Friday<\/a> that the Federal Reserve Bank of New York sold euros for yen on behalf of the Treasury Department, citing people familiar with the matter.\n <\/p>\n \n Trump said Sunday that supporting the yen would be \u201cgood for the world economy.\u201d He cited last year\u2019s $20 billion bailout<\/a> for Argentina and the capture of Venezuelan President Nicol\u00e1s Maduro as examples of how US intervention has helped bolster other countries\u2019 economies. The impact of those actions, however, is more complicated.\n <\/p>\n \n Treasury Secretary Scott Bessent said the US and Japan coordinated foreign exchange actions to counter disorderly yen movements on Friday, adding that the Treasury Department \u201cwill not hesitate to participate in further joint intervention.\u201d\n <\/p>\n