Forex
US Treasury Warns of Possible Yen Intervention
The US Treasury informed banks that it may intervene in Japan's yen market on Friday.
This move comes after Japanese authorities stepped in to prop up the yen, causing its biggest weekly rise since February.
The yen last traded at 159.61 against the dollar, a 0.06% increase on the day.
US Treasury Secretary Scott Bessent said the yen 'seems very undervalued' and that Japanese Prime Minister Sanae Takaichi is enacting 'strong policies' to help Japan's economic fundamentals.