Japan-US Joint Yen Intervention: First Since 1998, Treasury Buys Yen

The US and Japan jointly intervened to prop up the yen for the first time since 1998, with the Treasury reportedly buying yen. The BOJ held rates at 1% while the yen weakens. This is a critical global finance story affecting bond yields, inflation, and trade dynamics, adding a new dimension to the macroeconomic landscape. July's market recap confirms the intervention and notes Fed/BoE holds with hawkish dissents.