1 of 1
Story summary
- U.S. Treasury Secretary Scott Bessent led a joint U.S.–Japan intervention to buy $5-10 billion of yen.
- The Treasury used euro holdings for the purchase to limit dollar downside pressure.
- He cited the Federal Reserve’s Foreign and International Monetary Authorities Repo Facility (FIMA) so Japan could act without selling its $1 trillion-plus Treasury stockpile.
- Officials warned the move could stop Japan from dumping $1.1 trillion of U.S. bonds, which would raise U.S. yields.
