US and Japan Mount Joint Yen Intervention as Bessent Notes Point to a $5–10 Billion Purchase

Photographed Treasury notes and official confirmation of ongoing intervention signal a coordinated defense of the yen, a rare use of state currency purchases.

The United States and Japan are conducting joint intervention in the currency market to support the yen, an effort that Watcher Guru reported is still ongoing. The action follows reporting that Reuters photographed notes belonging to U.S. T…