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Story summary
- U.S. Treasury Secretary Scott Bessent announced he will intervene to push the yen higher.
- Bessent coordinated with Japan Finance Minister Satsuki Katayama for joint yen purchases starting July 31, targeting $10 billion.
- Japan spent a record $96.4 billion on yen support from July 30 through Aug. 26, with U.S. assistance.
- Traders expect the yen could fall below 150 per dollar by year-end after reaching about 152.
