US Treasury Buys Yen Amid Currency Weakness

The US Treasury has reportedly purchased yen in recent days, according to a Financial Times report. This move comes as the Japanese currency is near its weakest level in almost 40 years.

The purchase was made by converting euros into yen through Goldman Sachs and Morgan Stanley, but no figure for the amount involved was given.

This action marks Washington's first yen-buying effort alongside Tokyo in more than a decade. The move aims to deter further attempts to take advantage of the yen's weakness and help stabilize its value.