The US and Japan stage a “Yentervention”Japan and the United States confirmed today they jointly intervened to prop up the Japanese yen, the first such action since 2011. Washington purchased an estimated $5 to 10 billion worth of yen, though the White House has not confirmed the exact amount. Traders are now watching whether the Bank of Japan raises interest rates from its current level of 1%, which would give the yen more durable support. European heatwave shuts down Hungary’s nuclear power plantHungary was forced to shut down its only nuclear power plant this weekend after a record drought and heatwave pushed water levels in the Danube River to historic lows. Budapest also said the crisis could cost the country between $315 million and $630 million in energy imports to cover the shortfall.