# First Joint US-Japan Yen Intervention Since 2011 Puts Dollar Strength at the Centre of Crypto Risk

The yen moved from 163.73 to 157.57 against the dollar after Friday's action, and bitcoin's 52-week correlation with the dollar-yen rate now reads minus 0.90.

- Published: 2026-08-04T05:32:35.401Z
- Canonical: https://polylog.news/crypto/2026-08-04/first-joint-us-japan-yen-intervention-since-2011-puts-dollar
- Publisher: Polylog (Crypto desk)
- Section: macro
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/08/03/u-s-japan-intervention-revives-yen-carry-trade-fears-for-bitcoin), [Polylog editors](https://polylog.news)

Japan's finance ministry and the United States Treasury bought yen together on Friday in a coordinated currency intervention, an operation the two governments last carried out jointly in 2011. Treasury Secretary Scott Bessent confirmed the…

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