๐น US joins Japan in Yen intervention
The US has joined Japan in an unprecedented yen intervention to stabilize the currency. This move aims to prevent forced selling of Treasury securities, marking the first such joint action in 15 years. The intervention involved the US selling euros to acquire yen, as reported on Friday. This action suggests the market needed a short-term fix for currency pressures. Experts view this as merely a temporary band-aid solution for underlying bond issues.