THEAMERICANCONSERVATIVE (Joseph Addington) - U.S. and Japan Intervene to Prop Up Yen
State of the Union: The U.S. and Japanese central banks jointly bought yen in an attempt to shore up Japan’s weakening currency. The post U.S. and Japan Intervene to Prop Up Yen appeared first on The American Conservative .
President Donald Trump said Sunday that the United States had joined Japan in buying yen to halt the currency’s persistent slide, marking the allies’ first coordinated monetary intervention since 2011. Trump called the purchase a “signal of friendship” that would benefit both the United States and the global economy. “We’re always there for Japan,” he told reporters aboard Air Force One, adding that Japan had also been good to the United States “with the exception, of course, of Pearl Harbor.” Japan’s Finance Ministry said it purchased yen Friday in coordination with the U.S. Treasury to counter “excessive volatility and disorderly movements.” Japan’s Finance Minister Satsuki Katayama and Treasury Secretary…Open