Bessent note points to $5 billion-$10 billion US yen buying
What's new: The move would mark the Treasury's first yen-support operation since coordinated G7 action after Japan's 2011 disaster.
A notepad visible at a Cabinet meeting showed Treasury Secretary Scott Bessent weighing US purchases of $5 billion to $10 billion in Japanese yen, adding to evidence Washington joined Tokyo's effort to lift the currency. A Reuters photo taken over Bessent's shoulder at Camp David showed a "To Do" list reading: "Buy Japanese Yen (JPY) $5-10 bil." Earlier that day, Reuters reported the Treasury had alerted some banks it might intervene. Market data showed the dollar sliding from about 158.9 yen to 157.6 yen late in New York trading. Japanese authorities had already moved to support the yen, which had hovered near its weakest levels since 1986.