US Treasury Intervenes to Support Yen Amid Record Low Levels

The U.S. Treasury has intervened in the foreign exchange market to support the yen, which has been struggling near 40-year lows.

This marks Washington's first yen-buying intervention with Tokyo in over a decade, as reported by the Financial Times.

The intervention involved the Federal Reserve Bank of New York selling euros for yen on behalf of the Treasury through Goldman Sachs and Morgan Stanley, according to sources familiar with the matter.