According to a quarterly report released by the Federal Reserve Bank of New York on Thursday, the U.S. Treasury deployed approximately $497 million in euros from its Exchange Stabilization Fund on July 31 to support the Japanese yen amid coordinated intervention with Japan. The Fed stated it purchased 79.4 billion yen in the spot market and sold euros to execute the operation, aimed at addressing what the Treasury deemed disorderly yen fluctuations. The move came as the dollar hit 163.9 against the yen, a level unseen since the 1980s. Japan invested a record $9.75 billion in the intervention, according to Japan's Finance Ministry data as of August 26.

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