US Treasury Secretary Scott Bessent joined Japanese authorities in a rare coordinated yen intervention, reportedly proposing a $5-10 billion US purchase of yen. This marks the first joint US-Japan currency intervention since 2011 and signals a major shift in US foreign exchange policy. The move has already impacted currency and bond markets.
- US Treasury Secretary Bessent joined Japan in a coordinated yen intervention, proposing a $5-10 billion US purchase of yen to strengthen the currency.
- This is the first joint US-Japan currency intervention since 2011, aimed at reversing months of yen depreciation that gave Japan a trade advantage.
- The move signals a major shift in US foreign exchange policy and has already impacted currency and bond markets.