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

The U.S. Treasury intervened in currency markets on Friday to support the yen, according to reporting by the Financial Times. The Federal Reserve Bank of New York executed sales of euros in exchange for yen on behalf of the Treasury through Goldman Sachs and Morgan Stanley, though the specific volume of the transaction was not disclosed. Earlier that day, the Treasury had alerted multiple banks to prepare for potential market intervention.
A photograph of Treasury Secretary Scott Bessent’