Two Japanese government officials told Reuters that Japanese Finance Minister Katsunobu Katayama will announce on Monday that Tokyo and Washington have taken joint action in the currency market to curb the depreciation of the yen. Sources said Katayama is likely to emphasize the two countries' determination to counter excessive yen depreciation. The report noted that when asked whether Katayama would announce "joint action," a source gave an affirmative answer and added that "the operations are

Two Japanese government officials told Reuters that Japanese Finance Minister Kaori Katayama will announce on Monday that Tokyo and Washington have taken joint action in the currency market to prevent further depreciation of the yen. According to sources, Katayama is very likely to emphasize the determination of both countries to resist excessive devaluation of the yen. The report pointed out that when asked whether Katayama would announce "joint action," one source gave an affirmative answer and added, "the action is still ongoing." Previously, market sources said that Japanese and US authorities had conducted several rounds of yen-buying operations in the market—this is the first such joint intervention since 2011—aimed at boosting the yen from its lowest level against the US dollar since 1986. (Golden Ten Data).