Japan's 2026 defense white paper repeated its Dokdo claim but called South Korea an important partner amid growing North Korean, Russian and Chinese threats.

By Takaya Yamaguchi, Yoshifumi Takemoto and Makiko Yamazaki TOKYO, Aug 5 (Reuters) - Japan's government on Wednesday signed off on Prime Minister Sanae Takaichi's flagship plan to slash the consumption tax on food,

Washington's decision to join Japan in supporting the battered yen has prompted questions over what motivated the rare coordinated intervention.

Treasury Secretary Scott Bessent made $1 billion betting against the yen as the top investor for George Soros more than a decade ago. Now, he is using the might of the U.S. economy to prop up the Japanese currency.

Both countries have said that they will not hesitate to conduct joint interventions in the future.

The prolonged weakness of the yen, which recently hit a 40-year low against the dollar, has been a source of frustration in import-dependent Japan, where it has worsened inflation.

The Treasury secretary wants the central bank to help by raising its $60 billion borrowing limit on an obscure lending program.

Tokyo confirmed the operation and warned that the US and Japan could intervene together again if needed.

The U.S. Treasury joined efforts in Tokyo to stem the yen’s slide against the dollar, highlighting the broader risks posed by turmoil in Japanese markets.

The two countries “will not hesitate to conduct further joint intervention," vowed Japan's Finance Minister Satsuki Katayama.

TOKYO, Aug 5 (Reuters) - Japanese Prime Minister Sanae Takaichi asked the Bank of Japan to buy more government bonds when necessary to curb rises in long-term interest rates during a meeting with BOJ Governor Kazuo Ueda in May,