Odd Lots: Brad Setser on the US’s Yen Intervention (Podcast)
Last week, the US joined forces with Japan to try to stop the yen’s slide. It’s the first time the two sides have intervened in the Japanese currency in 15 years, and in many ways it was an unprecedented and unusual move, with Treasury Secretary Scott Bessent choosing to sell euros (as opposed to dollars) and the use of a little-known Federal Reserve repo facility. So why did the yen’s value drop…
We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.
