Japan, U.S. make 1st joint forex intervention in 15 yrs, further moves eyed

TOKYO - Japan and the United States said they conducted coordinated yen buying Friday in their first joint market intervention in 15 years to stem the currency's recent fall to a 40-year low against the U.S. dollar, with the two nations warning Monday they could act again.

The intervention during New York trading on Friday came after the yen hit 163.99 to the U.S. dollar on July 23, its weakest level since 1986, amid mounting fears about Prime Minister Sanae Takaichi's expansionary fiscal policy and how it will be funded.