Japan's finance ministry confirmed on Aug. 3 that the U.S. and Japanese governments had coordinated on July 31 for Washington to buy Japanese yen to bolster the currency, the first such intervention since 1998. U.S. President Donald Trump told reporters on Aug. 2 that the United States received a "financial benefit" from the purchase, and U.S. Treasury Secretary Scott Bessent said the United States "will not hesitate to participate in ​further joint intervention."