Trump confirms US backed yen intervention, calls it ‘signal of friendship’ to Japan

US President Donald Trump on Sunday confirmed that Washington intervened to support the Japanese yen, describing the move as a “signal of friendship” that would benefit both the United States and the global economy.

Speaking aboard Air Force One, Trump said the decision reflected the close relationship between the two countries.

“Because we have a good relationship with Japan,” Trump said when asked why the US stepped in. He added that the intervention would bring “financial benefit” to the US and was “also good for the world economy.”

“It was really more than anything else, it was a signal of friendship,” Trump said, noting that Japan had sought assistance as its currency weakened. “We’re always there for Japan. Japan’s been very good to us, with the exception, of course, of Pearl Harbor.”

The remarks came after the Financial Times reported that the US Treasury had jointly intervened with Japan to bolster the yen for the first time in nearly three decades. Citing people familiar with the matter, the report said the Federal Reserve Bank of New York sold euros to buy yen on behalf of the US Treasury on Friday.

The intervention followed the yen’s fall to 163.24 per US dollar last month—its weakest level since 1986—amid higher US interest rates, elevated oil prices and sustained capital outflows.

The yen rebounded sharply last week, prompting speculation that Japanese authorities had entered the currency market. Analysts quoted by the Financial Times estimated Japan’s intervention at around 8.45 trillion yen (about $52.8 billion), while the Nikkei newspaper put the figure between 6 trillion and 7 trillion yen.

If confirmed, the coordinated action would mark the first joint US-Japan intervention to support the yen since 1998.