ForexMedium•13 November 2026•
1 min read
US Treasury Intervenes to Buy Yen for First Time Since 1998
Key Facts
1The US Treasury bought approximately 79bn yen on July 31, marking its first yen-buying intervention since 1998.
2The US action occurred alongside a 15 trillion yen intervention by Japan's Ministry of Finance.
The US Treasury bought approximately 79 billion yen on July 31, 2026, marking its first yen-buying intervention since 1998. Reports citing the Federal Reserve Bank of New York stated that the US action occurred alongside a 15 trillion yen intervention by Japan's Ministry of Finance to support the currency.
The joint intervention aimed to counter what the Treasury viewed as disorderly market moves as the yen approached the 160 level against the dollar. While the New York Fed conducted rate checks on behalf of the Treasury, Secretary Scott Bessent indicated that the US would not hesitate to join further interventions if necessary.