Tokyo and Washington have threatened further coordinated moves to contain turmoil spreading from currency markets into bond markets
Japan and the US have officially confirmed an extraordinary joint intervention to rescue the yen after its collapse toward a four-decade low spilled over into the already strained American government-debt market.
Japanese Finance Minister Satsuki Katayama announced the operation on Monday morning in Tokyo, saying the two governments jointly purchased yen during US trading on Friday, July 31.
The intervention was intended to counter “excessive volatility and disorderly movements” in the currency, Katayama said, adding that Tokyo remained in close contact with the US Treasury and “will not hesitate to conduct further...
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