US and Japan executed their first joint yen intervention since 1998, strengthening the currency from 40-year lows. Here's what it means for

It was Washington's first yen-buying intervention with Tokyo in more than a decade as it languishes near 40-year lows.

TOKYO, Aug 2 — Washington and Tokyo jointly intervened to shore up the Japanese yen for the first time in nearly 30 years after the currency sank to its weakest level in…