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Treasury Signals $5-10B Yen Purchase, Yen Hits 1986 Low

8/2/2026

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Summary

Story summary

U.S. Treasury Secretary Scott Bessent wrote “Buy Japanese Yen (JPY) $5-10 bil” on a notepad photographed at Camp David Friday.
The Treasury warned banks of possible intervention after the note was seen.
The Federal Reserve Bank of New York (New York Fed) sold euros for yen, pushing the dollar to 157.6 yen, a 0.8 percent gain.
The yen fell to its weakest level since 1986, since the Treasury last intervened in 2011.

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Story summary

U.S. Treasury Secretary Scott Bessent wrote “Buy Japanese Yen (JPY) $5-10 bil” on a notepad photographed at Camp David Friday.
The Treasury warned banks of possible intervention after the note was seen.
The Federal Reserve Bank of New York (New York Fed) sold euros for yen, pushing the dollar to 157.6 yen, a 0.8 percent gain.
The yen fell to its weakest level since 1986, since the Treasury last intervened in 2011.