Saturday, 1 August, 2026
Transatlantic Rescue: US Treasury Steps In to Support Battered Yen
By TechShots Studio
The US Treasury intervened directly in currency markets to buy Japanese yen, joining Tokyo’s efforts to rescue the currency from near 40-year lows. According to the Financial Times, the Federal Reserve Bank of New York sold euros to purchase yen via major investment banks. Marking Washington's first direct support for the yen since 2011, the rare joint intervention successfully triggered a sharp rally for the Japanese currency.