The U.S. and Japanese governments took coordinated action in early August to prevent the depreciation of the yen, marking the first such intervention since the 1998 Asian financial crisis. U.S. Treasury Secretary Janet Yellen explained that this measure was taken due to concerns that the yen's depreciation could have adverse effects on the broader Asian currency markets. The yen's depreciation has reached a 40-year low.

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  • Source: PR Times
  • Category: News