CNBC Daily Open: Fast and furious intervention to prop up the yen — will it work?

Satsuki Katayama, Japan's finance minister, speaks to members of the media in Tokyo, Japan, on Monday, Aug. 3, 2026. Japan confirmed its first joint intervention with the US in currency markets in 15 years and warned that it was ready to act again, after the yen last week slid to a four-decade low. Photographer: Kiyoshi Ota/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesHello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.Japan, having intervened to prop its weakening currency to little effect in the past, roped in the U.S. to stage a coordinated intervention last week. For now, the currency's strength seems to be holding, but experts have doubts that it will last. Meanwhile, U.S. markets continued strengthening on a tech-fueled rally, with the S&P 500 within striking distance of its all-time high. What you need to know todayIn the recent past, Japan has stepped in to support its currency, only to watch it weaken again as rate differentials and soft fundamentals pulled it back down the road. But this time, Tokyo is not driving alone. The latest fast and furious intervention to prevent Tokyo's currency from drifting...