Scott Bessent is using moves from his hedge fund days to prop up Japan’s yen—and America’s $40 trillion national debt

The man who once shorted currencies is now propping them up. “He takes risks that other Treasury Secretaries over the past two generations wouldn't.”

U.S. and Japan rush to rescue the yen, but one market won't flinch

As the U.S. joins Japan to defend the yen, bitcoin stays flat above $63,000, defying the carry-trade panic that once sank it.

Japan, US confirm joint yen-buying intervention, signal more action

By Makiko Yamazaki and Leika Kihara TOKYO, Aug 3 (Reuters) - Japan and the United States conducted coordinated yen-buying intervention and will not hesitate to take further action, Japan's finance ministry said on Monday,

U.S. and Japan Coordinated to Help Stabilize the Yen

U.S. and Japanese officials confirmed that the Treasury Department had moved last week to prop up the currency, which had been trading near four-decade lows.

Dollar weakens sharply against the Japanese yen after market interventions

The U.S. dollar has weakened sharply against the Japanese yen after U.S. President Donald Trump and Japan's finance minister confirmed both sides had intervened in markets

U.S. joins Japan in coordinated effort to support yen

The U.S. joined Japan in buying yen, helping reverse the currency's slide as authorities signaled that further coordinated action remained possible.

The US-Japan yen intervention has traders glued to one trade

Tokyo confirmed the operation and warned that the US and Japan could intervene together again if needed.

Analysis: How Bessent is pushing Warsh’s Fed to expand backstop for Japan’s yen defense

Treasury Secretary Scott Bessent wants to defend the yen without selling Treasurys into a sensitive U.S. bond market. The Federal Reserve could help.