---
title: "Yen's Decline Deepens as Half of the Gains from Historic US-Japan Intervention Vanish"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295424699.md"
description: "The yen fell to 159.06 against the US dollar, marking the worst performance among the G10 currencies. Half of the gains sparked by the joint US-Japan intervention have been erased. Although weakening liquidity could trigger a new round of intervention, recent interventions are unlikely to reverse the yen's downward trend due to adverse factors such as Japan's increased fiscal spending"
datetime: "2026-08-10T15:03:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295424699.md)
  - [en](https://longbridge.com/en/news/295424699.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295424699.md)
---

# Yen's Decline Deepens as Half of the Gains from Historic US-Japan Intervention Vanish

The yen fell 0.8% against the US dollar to 159.06, marking the worst performance among the G10 currencies, as half of the gains sparked by the historic joint intervention by the US and Japan were erased. Tuesday was a public holiday in Japan, and traders worried that reduced liquidity might create conditions for a new round of intervention. Nevertheless, recent interventions seem unlikely to change the yen's weakness, as it faces many significant headwinds, such as market concerns that Japan may increase fiscal spending.

After the yen fell to near its lowest level in nearly 40 years around 164 against the US dollar, Japan and the US launched their first joint yen-buying action since 1998 earlier this month. This intervention once pushed the yen stronger to around 155, but the momentum subsequently began to fade.

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