US, Japan say ‘ready to act again’ to support yen
A man checks his phone next to a board showing the U.S. dollar and Japanese yen exchange rate at a securities firm in Tokyo on Aug. 3, 2026. (AFP)
Japan and the United States Aug. 3 said they were ready to act again following their first joint action in 28 years to boost the yen, after the beleaguered currency hit a four-decade low.
The yen has been weakening because of the gap between Japanese and US interest rates — fueling the yen "carry trade" by investors — as well as concerns about Japan's colossal debts under new Prime Minister Sanae Takaichi.
The scale of the joint operation on July 31 was not known, but it was the first since 2011 when the United States and Japan — and other G7 members — sold yen to stop it rising after a huge earthquake.
