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Sarah Holzmann

The US Just Intervened in Japan’s Markets. Why Treasury Secretary Scott Bessent Says the Yen Crisis Might Not Be Over – ‘We Will Not Hesitate’

Scott Bessent United States Japan US Treasury BOJ

The United States and Japan executed a rare coordinated yen-buying intervention last Friday, July 31, marking the first joint action to strengthen the Japanese currency since 1998.

The operation was confirmed today, Aug. 3, by both Japan's Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent, with both officials explicitly warning that they would not hesitate to intervene again.

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