The US and Japan coordinated currency intervention in late July 2026 to support the yen after it weakened to a 40-year low of 163.99 yen/dollar. This marks their first joint intervention in 15 years. US Treasury Secretary Scott Bessent cited regional economic stability concerns, while officials note the cooperation signals strong US-Japan alignment—with underlying implications for regional geopolitics and China relations. Though initial impact strengthened the yen to 155-157 range, sustained intervention effectiveness remains uncertain given Japan's structural fiscal and monetary challenges.