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The Japan Times
buy $5-10 billion worth of Japanese yen, photo shows
During a recent Cabinet meeting, U.S. Treasury Secretary Scott Bessent's note suggested a plan to buy between $5 billion and $10 billion worth of Japanese yen. This indication comes as the Treasury may consider interventions to counteract the currency's volatility against the U.S. dollar. Recent actions by Japanese authorities have already shown a positive impact on the yen's strength within the currency market, raising concerns and interest in coordinated responses from the U.S. Treasury.
MonitorConfidence: HighShort term horizon
Published 1 Aug 2026, 01:45 UTC1 min read
Visit original article ↗Lead image — The Japan Times
Summary
TL;DR
- Bessent's notepad shows a plan to purchase up to $10 billion in yen.
- Treasury officials may be intervening to support yen's value.
- The yen has strengthened following interventions from Japanese authorities.
- U.S. Treasury has not intervened in the currency market since 2011.
- Dollar's value dropped against the yen by approximately 0.8%.
Interesting facts
- The last U.S. intervention to support the yen was in 2011.
- Bessent's notes were photographed during an official meeting.
- The timing of the planned purchases correlates with currency market shifts.