The US Treasury Department intervened in foreign exchange markets to support the Japanese yen after Japan's own intervention, the Financial Times reports. The intervention marks a rare direct US forex move.
The US Treasury Department intervened in foreign exchange markets to support the Japanese yen, the Financial Times reported Saturday. The intervention follows a similar move by Japan to bolster its currency. Earlier on Saturday, The Zioneer reported that Treasury Secretary Scott Bessent was photographed with a to-do list that included 'Buy Japanese Yen (JPY) $5-10 bil.' The Treasury had also considered similar forex interventions in Argentina and the United Arab Emirates, according to earlier reports. The size and timing of the intervention remain unclear.
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