#USJapanYenIntervention

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The yen defense went official, from anonymous sources to two-government confirmation. Japan's MOF confirmed it bought yen with the US Treasury last Friday, the first coordinated US-Japan purchase since 1998, under their Sept 2025 joint statement, run by the NY Fed. Bessent said he "strongly supports Japan correcting the yen's undervaluation" and "won't hesitate" on more. Japan's two rounds total ~14-15tn yen. USD/JPY fell from above 162 to below 156 on Aug 3, a first since May 6.

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