US Warns Banks as Yen Intervention Sparks Global Currency Chaos

The U.S. Treasury has warned major banks to be prepared for possible foreign exchange intervention on Friday, amid concerns about Japan's currency market.

Japan recently intervened in its currency market with a massive $53, $59 billion dollar injection to support the yen, which has been trading near a four-decade low against the U.S. dollar.

The possible U.S. involvement adds another layer to the currency battle and suggests officials are becoming increasingly concerned about sharp moves in the yen.