What was the scale and significance of the recent U.S.-Japan joint yen intervention?

Japan sold almost $60 billion to support the yen, while the U.S. planned to spend between $5 billion and $10 billion — marking the first joint intervention since 2011 and aimed at arresting the yen’s slide to 40-year lows; the yen subsequently rose around 4% against the dollar and briefly hit its best levels since early May.

What immediate market reactions followed the intervention and related geopolitical developments?

The intervention coincided with a pause in U.S. bombing of Iran and reports of fresh talks, causing oil prices to fall over 5% to below $84 per barrel; meanwhile, Asia markets opened lower — notably South Korea’s KOSPI sliding more than 5% — while Wall Street futures rose before the bell.

Morning Bid: Much 'To Do' About Yen Intervention

Aug 3, 2026

Japan and the US executed a historic $60 billion joint yen intervention to stabilize the currency. Concurrently, oil prices fell 5% on geopolitical developments, while AstraZeneca shares dipped amid potential $400 billion merger talks with Bristol Myers Squibb.

reuters

2026-08-02

AstraZeneca Holds Talks with Bristol Myers Squibb on $400 Billion Megadeal, FT Reports

2026-08-03

Wall Street Rallies, Dow Closes at Record on Iran Talks Optimism

2026-08-03

Morning Bid: Much 'To Do' About Yen Intervention

2026-08-04

Business Watch: War doesn’t stop Gulf chemical makers; BMS and AstraZeneca reportedly in merger talks

2026-08-04

AstraZeneca should stick to its winning formula. It doesn’t need a $400bn US mega-merger