The action signals a change in Washington's historical policy of cautiousness on intervening directly in foreign exchange markets. It fell to 163.87 yen a dollar on July 28 and then surged as some investors began to worry about government support. Trump, Bessent Defend Coordinated Yen InterventionU.S. President Donald Trump agreed to take part in the intervention as he spoke with reporters on Air Force One. A Broader Shift in Currency PolicyThe coordinated intervention has meaning other than to stabilize the yen. The U.S. involvement is an exception to the longstanding Washington policy of not meddling in currency markets, except in times of severe disruption in the markets.