The latest coordinated effort by the US and Japan to support the yen is estimated to cost nearly $100 billion, according to a report. The Bank of Japan spent $87 billion in two days, while the US Treasury contributed between $5 billion and $10 billion, using euro-denominated assets in a move that alarmed European capitals.
The US and Japan have conducted a joint intervention in currency markets to stabilize the yen, with the total cost estimated at close to $100 billion, according to a report. The Bank of Japan alone spent $87 billion over two days, a significantly larger amount than in previous intervention rounds. The US Treasury contributed between $5 billion and $10 billion, funding its share through the sale of euro-denominated assets rather than dollars, a decision that reportedly caught European capitals by surprise and added to transatlantic tensions. The intervention comes as the US dollar and bond market face severe pressure, with the 10-year Treasury yield climbing nearly 80 basis points since the onset of the war in Iran.
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