Camp David Notepad Sparks Talk of US Yen Purchases Amid Weak Yen
TL;DR
At a Camp David cabinet meeting, a notepad visible to Reuters reportedly listed a plan to buy $5-10 billion in Japanese yen, fueling talk of potential US yen intervention as the currency weakens; reports also reference NY Fed actions and bank notices, though there’s no official confirmation of intervention since 2011.
- Bessent ‘to-do’ list shows proposal for US to buy $5bn-$10bn of Japanese yen The Guardian
- US Treasury informed banks that it may intervene in Japan's yen, source says Reuters
- Yen Gains on Intervention, Reports of Buying By Both US, Japan Bloomberg.com
- Japanese Yen Jumps to 2-Month High Versus Dollar in Possible Intervention WSJ
- US Treasury undertakes historic intervention in yen market Financial Times
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