U.S. Treasury Warns Banks of Possible Yen Intervention on Friday

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

This warning comes after Japan spent up to $59 billion in one day to support its currency, with the yen recovering from levels near a four-decade low against the U.S. dollar.

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