JAPAN ANNOUNCES RECORD-DAY FINANCIAL INTERVENTION OF ¥798 TRILLION. On November 9, 2026, Japan revealed that it spent a record ¥798 billion on July 30 to buy its own currency in an effort to reverse persistent pressure on the yen. The single-day transaction, valued at approximately $50.4 billion or 1.68 trillion baht, was part of a total ¥15.399 trillion spent on currency purchases in July and August, equivalent to about $97.16 billion. Total spending in July–August exceeded Japan’s previous intervention outlays in April and May, reflecting growing concerns over the yen’s weakness and the difficulty of reversing its downward trend. Earlier this year, the yen fell to nearly ¥164 per U.S. dollar—the lowest level in 40 years. Japan’s Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent confirmed that the two countries jointly intervened in late July to support the yen. This marked the first coordinated effort to strengthen the Japanese yen since 1998. Initially, the intervention pushed the yen higher, but the currency now trades around ¥158.20 per dollar as investors increase expectations that the U.S. Federal Reserve will continue raising interest rates. Throughout the summer, Bessent endorsed Japan’s efforts to address the yen’s excessive weakness and emphasized the currency’s role in driving inflation higher in Japan. His remarks fueled speculation that the Bank of Japan (BOJ) might accelerate its monetary tightening. The BOJ raised its policy rate to 1.25% in September and is expected to hike rates again before the end of 2026. The central bank has identified the yen’s depreciation as a key factor affecting Japan’s economic outlook and inflation prospects. — The Nation