Slide 1 of 3: On Borrowed Time: The US–Japan Yen Intervention
Icarus AsiaTop storiesAugust 4, 2026
FX & Rates Research
August 4, 2026Japan
JapanUSD/JPYInterventionBank of JapanTreasury
On Borrowed Time: The US–Japan Yen Intervention
Japan and the United States bought yen together for the first time since 1998 — an estimated $52.8 billion from Tokyo on July 30, Washington following a day later. USD/JPY came back from a 40-year low in four sessions. Japan's debt load, energy deficit and rate gap did not move at all.
Latest Update
August 4, 2026
|Japan
|JapanUSD/JPYInterventionBank of JapanTreasury
On Borrowed Time: The US–Japan Yen Intervention
Japan and the United States bought yen together for the first time since 1998 — an estimated $52.8 billion from Tokyo on July 30, Washington following a day later. USD/JPY came back from a 40-year low in four sessions. Japan's debt load, energy deficit and rate gap did not move at all.
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