US Treasury intervenes to support yen after Japan steps in, FT reports

In Japan on 1 August 2026, the yen gained after reported currency-market intervention. The Financial Times reported that the US Treasury intervened to support the yen after Japan stepped in. A photo of a note attributed to Bessent listed a proposal to buy $5 billion to $10 billion worth of Japanese yen. Japan Times wrote that Bessent and the Fed helped Japan reverse months of yen losses, while an earlier report said Japan had likely intervened with possible US help.