Trump says US backed Japanese Yen in rare currency intervention
President Donald Trump said on Sunday the United States had intervened to support the Japanese yen, describing the move as a "signal of friendship" that would benefit both the US and global economy. The Financial Times reported Washington and Tokyo had jointly backed the yen for the first time in nearly three decades.
Source excerpt
President Donald Trump on Sunday confirmed that the United States had intervened to support the Japanese yen, calling the move a "signal of friendship" that would financially benefit the US and world economy.
The Financial Times reported on Friday that the US Treasury had jointly intervened with Japan to prop up the yen for the first time in nearly three decades.
Asked aboard Air Force One why the US was moving to support Japan's currency, Trump said: "Because we have a good relationship with Japan."
The US will see "financial benefit" from the move and "it's also good for the world economy," Trump insisted, but "it was really more than anything else, it was a signal of friendship."
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