Bessent's Blunder: A Sudden Yen Intervention Raises Questions About US Policy A hastily scribbled note by Scott Bessent at Camp David has sent shockwaves through financial markets, revealing a sudden and significant intervention in the Japanese yen market.
The $5bn $10bn proposal to buy yen is a dramatic departure from the Treasury's previous stance, leaving many to wonder what prompted this unexpected move.
The weakening of the yen against the dollar, which has reached its lowest level since 1986, provides context for this development.