CNBC·4 min read·medium
U.S. Treasury intervenes to support yen after Japan steps in: FT
R
Reuters
✦AI Summary
The U.S. Treasury intervened in currency markets by purchasing Japanese yen to help stabilize the currency, which has recently hit 40-year lows. This rare joint effort with Japan aims to curb speculative trading and market volatility.
The U.S. Treasury bought yen on Friday to support the battered Japanese currency, the Financial Times reported , marking Washington's first yen-buying intervention with Tokyo in more than a decade as it languishes near 40-year lows.
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