In the short term, at least, finance ministers appear to have brought the markets some much-needed breathing space after a week in which the yen soared to record highs as the Nikkei suffered its worst two-day rout since the 1987 crash.
Equity markets also bounced. The Nikkei closed up 2.7pc on the day, driving equity markets in Europe and the US higher, despite increasing tension in the Middle East. Not bad for a statement that stretched to just 155 words and had more rhetoric than detail.
Will Friday's intervention suffer the same fate in the long term?
Currency traders certainly aren't ready to gamble on it yet. The intervention by central bankers in Europe and the US ? spending billions in the currency markets ? was more aggressive than expected and traders believe it won't be the last such move.
"The G7 has made an extended commitment that we think will stretch over a number of weeks," claimed Michael Woolfolk, senior strategist at BNY Mellon in New York.
The market is certainly braced for further action in the coming days and weeks.
But a ceiling for the yen has been established, for the time being anyhow, even if it is merely psychological.
More fundamentally, the success of Friday's move will have to be judged over the coming months rather than days or weeks.
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