The United States understands Japan's intervention in the foreign exchange market amid the yen's rapid decline against the U.S. dollar, a Treasury Department official said Thursday.
But the official denied that the United States was involved in the dollar-selling, yen-buying intervention by Tokyo, its first such operation in 24 years.
"We understand Japan's action, which it states aims to reduce recent heightened volatility of the yen," a Treasury spokesperson said in an email.