Japan conducts currency intervention to stem yen's fall vs. dollar: source

TOKYO - Japanese authorities intervened in the foreign exchange market on Thursday to buy the yen and sell the U.S. dollar, a government source said, a move that came after the Japanese currency had been trading around its weakest level in more than 39 years.

The latest move has apparently been supported by the U.S. government, with Treasury Secretary Scott Bessent saying Thursday the yen "seems very undervalued." The last time Japanese authorities intervened in the currency market was between April and May.