Japan, US step in to support yen, Tokyo keeps door open for more action

Japan and the US intervened in currency markets on July 31, 2026, buying yen to counter excessive volatility and disorderly movements.

The intervention was conducted under the Japan-US Finance Ministers' Joint Statement issued in September 2025.

Japan plans to use the US Federal Reserve's FIMA Repo Facility in the future.

Japan's Ministry of Finance stated it will not hesitate to carry out further coordinated interventions if necessary.

Japan cut its economic growth forecast for the current fiscal year to 0.9% from 1.3%, citing higher crude oil prices and a weaker yen.