...the "much larger than normal" intervention to strengthen the yen comes as the dollar’s net long position is stretched...

Japan and the U.S. may unveil a joint policy next week to defend the yen after record interventions in April and May.

Friday's move was first joint forex action by two countries since 2011

Japan's finance ministry confirmed that Tokyo and Washington jointly intervened in currency markets to support the yen for the first time since 2011. The coordinated move…