Treasury Note Suggests $5-10 Billion Yen Purchase at Camp David

A Treasury official showed a note to buy Japanese yen worth $5-10 billion at Camp David during a meeting of President Donald Trump's cabinet on July 31, 2026.

The photo captures this moment during the event. In it, the note sits above Scott Bessent's name on his placard, and the shot was taken about 11:33 a.m. Eastern Time (15:33 GMT).

Reuters reported that the U.S. Treasury's spokesperson did not respond to their request regarding the note's contents or whether anyone from the department had engaged to support the yen's rate on Friday.

The events of the morning and July 31 underscore the currency market's sensitivity to potential government actions and discussions of yen policy during high-level government deliberations, analysts say.