Japan spends $50.36 billion in 1 day to support yen
Business
Japan made headlines by spending a record $50.36 billion in one day to support the yen, which had sunk to its lowest point against the dollar in 40 years.
This move is part of a bigger $97.19 billion effort launched in July to keep the yen from sliding even further.
Japan coordinated interventions amid Iran tensions
Japan didn't go it alone: it teamed up with the US on July 31 and coordinated with South Korea around the same time, and Japan intervened again on August 3.
The push comes as global tensions, especially involving Iran, have put extra pressure on the yen.
All this shows just how serious Japan is about keeping its currency stable right now.