Japan, US Step in to Support Yen, Tokyo Keeps Door Open for More Action The synchronized intervention by Japan and the United States in the foreign exchange market has sparked a mix of relief and skepticism among financial markets.
The rare display of economic diplomacy, welcomed by some as a stabilizing force, raises more questions than answers about its implications for global monetary policy.
A Joint Effort to Quell Volatility The sudden move to prop up the yen, Japan's currency, has been attributed to excessive volatility and disorderly movements in the foreign exchange market.