Leaked Scott Bessent Memo Reveals Plan for $10B Japanese Yen Purchase

Key Facts

In a move that could signal a major shift in currency intervention policy, reports have emerged of a potential US plan to support the Japanese currency. According to reports, a leaked photograph of US Treasury Secretary Scott Bessent's notepad during a meeting at Camp David revealed notes regarding a plan to purchase Japanese Yen in amounts ranging from $5 billion to $10 billion. These notes, captured accidentally, suggest high-level discussions within the US Treasury to support the Yen.

This leak comes at a sensitive time for foreign exchange markets, as traders watch for any signs of coordinated intervention to bolster the struggling Japanese currency. Per market data, direct evidence of US-led intervention support is a significant surprise for FX markets, likely to trigger a sharp rally in the JPY and a corresponding decline in the USD/JPY pair based on these expectations.

Based on data available as of August 1, 2026, specific price levels for the instruments are unavailable in the current database, necessitating a focus on qualitative price direction for the Yen. Looking ahead, investors should monitor any official statements from the US Treasury to confirm these plans, alongside upcoming US economic data that could influence currency trajectories.