US Treasury Buys Japanese Yen in Rare Intervention to Support Currency
The US Treasury Department has made a rare move by purchasing Japanese yen to support the currency amid its historic low against the dollar. The intervention, which took place on July 31, 2026, was aimed at curbing the yen's depreciation, which reached a 40-year low of 163.73 yen per dollar before rebounding slightly.
According to officials, Treasury Secretary Scott Bessent prepared to buy between $5 billion and $10 billion worth of yen as part of the joint action with Japan. The intervention was necessary to counter excessive volatility in the Japanese currency.
US President Donald Trump described the move as 'a signal of friendship,' emphasizing America's readiness to assist Japan. He noted that supporting the yen would be 'good for the world economy.'