US Joins Japan's Yen Intervention Efforts

Treasury Secretary Scott Bessent revealed that the U.S. joined Japan's effort to strengthen the yen due to its critical importance for regional trade and financial stability.

A stable yen is crucial not only for the U.S., but also for the entire Asia region, according to Bessent.

The Treasury Secretary warned that further yen weakness could pressure other Asian currencies and contribute to competitive devaluations.

Bessent assured European officials that a recent sale of euros from U.S. reserves was merely a reallocation of reserves to buy yen as part of the coordinated operation.