US Treasury Secretary Bessent Helps Rescue Yen

US Treasury Secretary Scott Bessent has drawn on his hedge fund instincts to help rescue the Japanese yen, according to reports from August 5, 2026. The intervention recalls a similar US Treasury action in 1998 that caused a major yen rally. Analysts see a real message in the intervention, suggesting a coordinated effort to stabilize the currency. Meanwhile, other US economic data showed mixed signals, with ADP reporting only 44,000 private-sector jobs added in July and services-sector activity continuing to expand.