{
  "id": 19721369,
  "title": "US Treasury bought yen in July; Fed made no solo FX interventions in Q3",
  "url": "https://urgent.news/2026/11/12/us-treasury-bought-yen-in-july-fed-made-no-solo-fx-interventions-in-q3-19721369",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T22:12:12.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/us-treasury-bought-yen-in-july-fed-made-no-solo-fx-interventions-in-q3-6547636"
  },
  "original_language": "en",
  "account": "In the July-to-September quarter, the U.S. Treasury acquired Japanese yen, while the Federal Reserve refrained from conducting any independent foreign exchange market interventions, according to the Federal Reserve Bank of New York's latest report. The New York Fed's report highlighted that these Treasury-driven purchases were executed in an effort to curb the yen's significant depreciation. This marked the first such intervention by the U.S. since 1998, and the report revealed a cooperative approach between Washington and Tokyo in stabilizing the currency. On July 30, press reports indicated that the New York Fed had requested rate checks for the dollar-yen pair, which were conducted solely on behalf of the U.S. Treasury. The yen surged by 2.3 percent against the dollar on this day. Subsequently, the dollar-yen rate dropped from approximately 164 yen per dollar to around 155 yen per dollar between July 30 and August 3, reflecting the currency's recovery. The U.S. Treasury Secretary, Scott Bessent, reportedly considered purchasing between $5 billion and $10 billion worth of Japanese yen during this period. Meanwhile, Japan's Ministry of Finance intervened in the market to the tune of 15.4 trillion yen during the same quarter to counter what they perceived as excessive volatility and disorderly movements in the yen. Treasury Secretary Bessent affirmed that the U.S. would not shy away from participating in further joint interventions, while also advocating for additional interest rate hikes by the Bank of Japan.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}