Story perspectives

U.S. Treasury Intervenes as Yen Plummets, Boosts Value

1/24/2026

Summary

Story summary

On January 24, 2026, the U.S. Treasury began currency-market intervention amid Japanese market instability and a 13% yen drop since April.
U.S. Treasury Secretary Scott Bessent said rising Japanese bond yields were increasing U.S. borrowing costs.
The Federal Reserve Bank of New York inquired about exchanging yen for dollars, signaling a potential large-scale yen purchase.
This speculation led to a 1.6% increase in the yen's value against the dollar.

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Story summary

On January 24, 2026, the U.S. Treasury began currency-market intervention amid Japanese market instability and a 13% yen drop since April.
U.S. Treasury Secretary Scott Bessent said rising Japanese bond yields were increasing U.S. borrowing costs.
The Federal Reserve Bank of New York inquired about exchanging yen for dollars, signaling a potential large-scale yen purchase.
This speculation led to a 1.6% increase in the yen's value against the dollar.