America Can’t Let the Japanese Yen Fail

In an extremely rare bilateral move, the US and Japan have intervened to shore up the Japanese yen, which has been steadily losing value and sliding towards a 40-year low. The news was confirmed by the Japanese Finance Ministry this morning. President Trump preceded the announcement by explaining that the US was “always there to help Japan.” In truth, there wouldn’t have been much point in denying it – a Reuters photo showed a memo on US Secretary of the Treasury Scott Beasant’s desk with the simple instruction “To Do – Buy Japanese Yen (JPY) 5-10 billion.”