The United States and Japan jointly intervened on August 1 to defend the yen, their first coordinated yen-buying action since 2011. The yen had slumped to roughly 163.7 per dollar, its weakest level in about four decades, before the joint action pushed it back toward 155. The last US intervention on the yen’s behalf was in 1998. Meanwhile, Japan’s Ministry of Foreign Affairs is pressing the United States to stop using Nintendo, Pokémon, and Naruto characters without authorization in social media posts, citing an example that mixed Nintendo Wii imagery with images of strikes in Iran on the official White House X account.
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