Power Players: Why does Trump care about the Japanese yen?

In a highly unusual move, the US has stepped in to back Japan's currency, the yen. Donald Trump calls it a "signal of friendship" but what is Washington hoping to achieve? And what does the move reveal about Japan's economy, after years of deflation and ultra-low interest rates? Rahul Tandon and Will Bain assess the intervention with the help of the BBC's "yen geek" Mariko Oi.

Presenters: Rahul Tandon, Will Bain and Mariko Oi Producer: Gideon Long

You can email the team: [email protected]

(Picture: A woman walks past a stock market indicator board in Tokyo, Japan, 03 August 2026. Credit: EPA/Shutterstock)