US Treasury Intervenes in Yen Markets with Rare Dollar-Yen Purchases

The US Treasury has reportedly intervened in foreign exchange markets to support the Japanese yen by purchasing the currency against the dollar, according to a report from the Financial Times.

This marks a rare direct intervention by Washington in currency markets, underscoring the heightened global concern over persistent yen weakness.

The reported move comes amid sustained depreciation of the yen, which has fallen to multi-decade lows against the dollar, driven by divergent monetary policies between the Bank of Japan and the Federal Reserve.