US and Fed Help Japan Reverse Yen Decline

In early August 2026, the United States, led by Treasury Secretary Bessent, and the Federal Reserve intervened in currency markets to support the Japanese yen, which had been losing value for months. A photo of Bessent's 'to-do' note revealed a plan to buy $5-10 billion worth of yen, signaling a coordinated US effort to prop up the currency. This intervention helped reverse the yen's decline, marking a significant shift in US-Japan financial cooperation.