U.S. Treasury Secretary Scott Bessent, Japanese Finance Minister Satsuki Katayama and Prime Minister Sanae Takaichi seek to stabilize currency and bond markets that have outgrown unilateral action. (Nikkei montage/Source photos by Reuters, Ken Suzuki and Akira Kodaka)
The Fed repo facility is one element in a broader campaign to strengthen the yen
TOKYO — Japan's currency authority remains defiant despite the yen surrendering about half the gains it picked up against the dollar following a round of interventions that included a joint U.S.-Japan operation to support the currency on July 31, the first such tag-team effort in 28 years.