According to Jinshi, U.S. President Donald Trump said the first coordinated U.S.-Japan intervention to buy yen was a "signal of friendship." Treasury Secretary Bessent said the Trump administration would honor its commitments to trusted partners. The report also said some observers believe the move reflects multiple U.S. interests beyond currency coordination, including support for Japanese Prime Minister Sanae Takaichi’s polling and an effort to push Japan to carry out a $550 billion investment plan in the United States. Bessent also voiced concern that Japanese policy could affect the U.S. Treasury market, with the 10-year Treasury yield hitting a new high on the same day as the yen intervention.
ChainCatcher reported, citing Jinshi, that U.S. President Donald Trump described the first coordinated U.S.-Japan action to buy yen as a "signal of friendship."
U.S. Treasury Secretary Bessent said the Trump administration would keep its promises to trusted partners.
The report added that some observers see broader U.S. interests behind the move, including support for polling tied to Japanese Prime Minister Sanae Takaichi and an effort to get Japan to follow through on a $550 billion investment plan in the United States.
Bessent also expressed concern that Japanese policy could affect the U.S. Treasury market. On the same day as the yen intervention, the 10-year U.S. Treasury yield reached a new high, according to the report.
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