The yen remained near three-month highs above ¥156 to the dollar on Monday, sustaining gains after Japanese Finance Minister Satsuki Katayama confirmed Tokyo and Washington conducted coordinated yen-buying intervention over the weekend — the first joint operation since 2011.
The currency touched ¥155.20 intraday before settling around ¥156.76 in late Tokyo trading, up roughly ¥3.44 from Friday. Bank of Japan data indicated Tokyo spent as much as $36.58 billion on Friday alone to support the currency, while separate figures suggested purchases reaching nearly $59 billion over Thursday.
Katayama said neither country would hesitate to conduct further joint intervention, while U.S. Treasury Secretary Scott Bessent expressed strong support for Japan's decisive action to correct yen undervaluation. The Nikkei 225 fell 607 points to close at 63,754.90 as the stronger yen weighed on equities.