{
  "id": 7596942,
  "title": "Bessent calls US yen intervention \"nominal,\" defends trade",
  "url": "https://urgent.news/2026/09/15/bessent-calls-us-yen-intervention-nominal-defends-trade",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T17:22:14.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/bessent-calls-us-yen-intervention-nominal-defends-trade-4902343"
  },
  "original_language": "en",
  "account": "Treasury Secretary Scott Bessent affirmed on Tuesday that the US's coordinated intervention to support Japan's currency was nominal in scale. Speaking at a House Financial Services Committee hearing, Bessent argued that the move served American interests. He explained that a stronger yen would benefit American exports and prevent Japan from needing to sell US assets to finance currency interventions. The Treasury joined Japan in purchasing yen on July 31 following the currency's historic drop to a four-decade low against the dollar. While Treasury watchers estimate the department spent less than $1 billion on the yen intervention, Japan's purchases amounted to a record $96.4 billion between late July and late August. Japan, being the largest foreign holder of US government securities, has been heavily engaged in yen purchases, mainly through dollar sales and likely US Treasuries. Bessent stated that with a nominal investment, the Treasury signaled support for Japanese policy, adding that the department has made tens of millions of dollars on the operation, though not the primary objective. Bessent hinted that he anticipates the Bank of Japan to raise interest rates to bolster the yen, with the central bank set to meet later that week. During a recent event at Southern Methodist University, Bessent claimed to have knowledge of the Bank of Japan's and Japanese policymakers' potential actions. In a letter to Democratic Senator Elizabeth Warren last month, Bessent warned that disorderly yen markets could lead to forced unwinds, destabilizing global markets and raising borrowing costs for American families and businesses.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Live Mint",
        "title": "‘Strong dollar is not a price on a screen’: Bessent defends US currency as global transactions rise",
        "url": "https://urgent.news/2026/09/15/strong-dollar-is-not-a-price-on-a-screen-bessent-defends-us-currency",
        "published": "2026-09-15T15:36:32.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Bessent defends 'modest' cost of US-Japan joint yen intervention",
        "url": "https://urgent.news/2026/09/15/bessent-defends-modest-cost-of-us-japan-joint-yen-intervention",
        "published": "2026-09-15T17:02:03.000Z"
      }
    ]
  },
  "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."
}