The US and Japan's first joint action on the yen in 15 years can only offer a temporary effect in defending the Asian currency, and a sustained reversal of the yen's long-term downward trend still depends on broader fiscal and monetary policy adjustments, experts warned on Monday.

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

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…

Tokyo and Washington saw eye to eye on halting yen weakness

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…