US Treasury mulls buying Japanese yen to support currency amid market pressure

The US Treasury is reportedly weighing a plan to purchase Japanese yen worth $5–10 billion, according to notes attributed to Treasury Secretary Scott Bessent. The move signals a potential shift in American currency policy, with the US considering active support for the yen in foreign exchange markets. Japanese authorities had previously intervened on their own to prop up the yen against a strengthening dollar. News of the potential US involvement caused the dollar to weaken against the yen. If executed, the move would represent a notable instance of coordinated or unilateral US action in support of a foreign currency.