The Worries That Drove Uncle Sam to Buy Yen

“In carrying out their first joint effort in a generation to boost the yen, the U.S. and Japan are seeking to contain tremors that could be triggered by a cratering Japanese currency,” the Wall Street Journal reports.

“The yen’s slide to a 40-year low indirectly threatened to bump up U.S. interest rates and risked throwing a wrench in plans to pull billions of dollars of Japanese investment into the U.S. “

“By propping up first Argentina’s currency and now the yen, President Trump is showing that he’s prepared to help allies who are battling financial markets, a contrast to the hands-off approach long favored by U.S. policymakers except in moments of exceptional peril.”