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US Treasury informed banks that it may intervene in Japan's yen: Reuters
Reuters reported the Treasury alerted banks to possible intervention, and the yen rose about 0.8% after Japanese authorities also stepped in, market data showed.
- On July 31, Treasury Secretary Scott Bessent displayed a notepad at Camp David reading "To Do Buy Japanese Yen $5-10 bil," revealing plans to purchase $5 billion to $10 billion in Japanese yen, according to a Reuters photograph.
- Earlier on July 31, Reuters reported the Treasury had notified banks of possible market intervention; Japanese authorities simultaneously acted in Tokyo to support the yen during morning trading hours.
- The photograph was captured at 11:33 EDT during President Donald Trump's cabinet meeting; a Treasury spokesperson did not immediately respond to Reuters requests for comment on the notepad contents.
- Data from LSEG shows the dollar weakened from about 158.9 yen to about 157.6 yen—a decline of about 0.8%—following the Treasury's signals and Japanese intervention.
- The Treasury has not intervened to support the yen since 2011, when it joined other countries in coordinated action following a devastating earthquake and tsunami in Japan.
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It was revealed through a memo by U.S. Treasury Secretary Scott Besant that the United States has set out to purchase $10 billion worth of Japanese yen. The Federal Reserve Bank of New York executed market intervention on behalf of the Treasury Department, drawing market attention as the first measure to defend the value of the yen in 15 years since 2011.
(Seoul = Yonhap News) Reporter Im Hwa-seop = Evidence that the U.S. Treasury Department intervened to prevent the weakening of the Japanese yen has been revealed in a media photo showing a memo by the Secretary.
·Seoul, Korea (the Republic of)
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Total News Sources41
Leaning Left2Leaning Right13Center12Last UpdatedBias Distribution48% Right
Bias Distribution
- 48% of the sources lean Right
48% Right
C 45%
R 48%
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