Politics
JPY/USD: Why the US Helped Japan Intervention to Prop Up Yen
Key Points
Explainer Why Japan Is Propping Up the Yen With US Help The yen’s weakness has become a growing issue for Japan’s policymakers, given its role in driving up import prices and household living costs. It’s also become a worry for the US. Japanese authorities spent almost $74 billion in late April to support the currency following two months of steep declines.
Explainer
Why Japan Is Propping Up the Yen With US Help
The yen’s weakness has become a growing issue for Japan’s policymakers, given its role in driving up import prices and household living costs. It’s also become a worry for the US.
Japanese authorities spent almost $74 billion in late April to support the currency following two months of steep declines. The resulting rebound was short-lived, however, and by July 23 the yen had slid further to its weakest against the dollar since 1986.