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Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows
Reuters said Treasury had alerted banks to a possible $5 billion to $10 billion yen intervention as the currency strengthened.
- During a cabinet meeting at Camp David today, Treasury Secretary Scott Bessent displayed a notepad indicating plans to purchase $5 billion to $10 billion in Japanese yen, according to a Reuters photograph.
- Earlier, Reuters reported the Treasury had notified banks about possible U.S. intervention in the yen market, while Japanese authorities in Tokyo had already acted to support the currency.
- Captured at 11:33 EDT during President Donald Trump's cabinet meeting, the photograph shows the notepad; a Treasury spokesperson did not immediately respond to requests for comment on its contents.
- Data from LSEG shows the dollar dropped from about 158.9 yen to about 157.6 yen, a decline of about 0.8% following the currency market activity.
- The Treasury has not intervened to support the yen since 2011, when it joined other countries in coordinated action following a devastating earthquake and tsunami in Japan.
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Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows
Bessent exposed a "to-do" list during Trump's cabinet meeting indicating he was contemplating U.S. purchases of $5 billion to $10 billion worth of Japanese yen, a Reuters photograph taken during the meeting held at Camp David shows.
·London, United Kingdom
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Total News Sources9
Leaning Left0Leaning Right2Center7Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
C 78%
R 22%
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