US, Japan Halt Yen's Slide From Near 1986 Lows
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- The US joined Japan in engineering one of the most notable yen rebounds since the currency's years-long slide, with the yen quoted at 157.40 per dollar at Friday's New York close — its strongest level since early May
- The yen had flirted with its weakest levels since 1986 just two days earlier, alarming Tokyo as rising import costs squeezed businesses and consumers
- Japan's prolonged currency decline has stoked domestic inflation and rippled through global markets
- US Treasury Secretary Scott Bessent and the Federal Reserve helped coordinate the reversal of months of yen losses through the joint intervention push
- The Bank of Japan held rates steady with an upward revision to its economic outlook following the intervention, per related coverage linked in the article
Why it matters: The yen went from near-1986 lows to its strongest level since early May in just two days — a turnaround showing that coordinated US-Japanese action can override market momentum and give Tokyo breathing room from the import-cost pressure hitting businesses and consumers.
