Treasury Warns Banks of Possible Yen Intervention as Japan Sells $59 Billion

The U.S. Treasury has warned major banks to be prepared for possible market intervention on Friday, which could impact the dollar and Bitcoin.

This warning comes after Japan's authorities stepped in to support its currency, using up to $59 billion in one day, making it one of the largest single-day interventions on record.

The yen has recovered from levels near a four-decade low against the U.S. dollar, with the current exchange rate at around 159.61 per dollar.

U.S. Treasury Secretary Scott Bessent said the yen appears 'very undervalued' and warned that excessive volatility is not healthy for markets.