U.S. Democratic Senator Elizabeth Warren has asked Treasury Secretary Bessent to explain the basis for the Trump administration’s intervention in the Japanese yen market. In a letter dated Aug. 13, Warren said the administration had not provided a detailed justification for the move. She also said it had not disclosed how much money was used to buy yen.
Bessent confirmed that the United States and Japan had carried out a joint foreign-exchange intervention to support the yen. According to the report, this was the first such coordinated action by the two countries since 1998. He did not disclose the amount of funds involved. The report attributes the information to ChainCatcher.
ChainCatcher reported that U.S. Democratic Senator Elizabeth Warren has asked Treasury Secretary Bessent to explain the basis for the Trump administration’s intervention in the Japanese yen.
In a letter dated Aug. 13, Warren said the administration had not provided a detailed explanation. She also said it had not disclosed how much money was used to buy yen.
Bessent confirmed that the United States and Japan jointly intervened in the foreign-exchange market to support the yen, the first such coordinated action since 1998, but did not state the amount of funds involved.
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