Japan said it interfered in the foreign exchange market three times during the summer to support the yen, confirming previously reported interventions, including Japan's first coordinated action with the US to support the yen in nearly 30 years. According to the daily foreign exchange intervention data for the previous quarter released by Japan's Ministry of Finance on Monday, the Japanese government bought a single-day record of 7.98 trillion yen on July 30, then bought 5.55 trillion yen and 1.87 trillion yen respectively in the following two days. A total of 15.4 trillion yen was purchased over three days, making Japan's largest intervention in buying yen in a single month. Japan and the US have previously confirmed that the two sides joined forces to intervene in the market on July 31. This is the first time since 1998 that the two countries have coordinated actions to support the yen. A rare joint intervention with Washington initially had a huge impact on the market. US Treasury Secretary Scott Bessent and Japanese Treasury Secretary Katayama Satsuki said that the intervention was aimed at curbing disorderly exchange rate fluctuations, and said that the two sides are ready to act again if necessary. The joint intervention convinced some market participants that the yen's prolonged weakness may be nearing its end. The yen eventually rose to 152.89 yen per dollar in early September, then regained some of its gains. In early trading in Tokyo on Monday, the yen was worth about 1 US dollar to 158.30 yen.

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