Former President Donald Trump announced on Sunday that the United States government took action to support the Japanese yen, characterizing the move as a diplomatic gesture of friendship. According to reports, this intervention was conducted jointly with the Japanese government, representing a significant shift in currency policy as it is the first such collaborative effort between the two nations in nearly three decades.

While Trump framed the intervention as a mutually beneficial move for both the U.S. and the global economy, the specific mechanics and the exact timing of the intervention remain limited in public reports. The move is notable due to the rarity of direct government intervention in foreign exchange markets, which typically aim to stabilize currency volatility or address significant trade imbalances. The Financial Times, which first reported the joint nature of the action, suggests this is a historic departure from recent U.S. currency policy, which has generally favored market-driven exchange rates over direct government interference.