{
  "id": 2924252,
  "title": "The dollar's outer defenses have been breached",
  "url": "https://urgent.news/2026/08/24/the-dollars-outer-defenses-have-been-breached-2924252",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T02:09:09.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/opinion/2026/08/24/the-dollars-outer-defenses-have-been-breached.html"
  },
  "original_language": "en",
  "account": "The Trump administration's concerns about a falling yen have historical parallels to the 1960s, when US officials feared a crisis could spread to America. In late July, Treasury Secretary Scott Bessent announced a plan to purchase $5 billion to $10 billion worth of yen to prop up the Japanese currency. This intervention was based on the belief that the yen was undervalued, and the US did not want to see a currency war. However, currency interventions have historically proven ineffective. A single intervention might temporarily move markets, but in the long run, economic fundamentals will prevail. Bessent and Trump's only real motive appears to be helping the US economy. In August, the US Treasury sold euros instead of dollars, aiming to show they would not endorse Japan offloading US Treasuries.",
  "summary": "The puzzle of why the Trump administration is so concerned with a falling yen has historical parallels not to the 1930s or the 1980s, but to the 1960s, when US officials feared that a crisis elsewhere could spread to America. With US bond yields spiking, Treasury Secretary Scott Bessent is getting desperate.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Jakarta Post Academia",
        "title": "The dollar's outer defenses have been breached",
        "url": "https://urgent.news/2026/08/24/the-dollars-outer-defenses-have-been-breached",
        "published": "2026-08-24T02:09:09.000Z"
      }
    ]
  },
  "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."
}