A Reuters photo shows Treasury Secretary Bessent's notebook containing the note
"buy yen $5-10bln." The Financial Times reported the U.S. intervened on Friday
in coordination with Japan, marking the first joint direct yen purchase in
nearly 30 years. Three people said the New York Fed, acting for the Treasury,
executed an unusual operation — selling euros to buy yen — and two said the
trades were routed through Goldman Sachs and Morgan Stanley. A Treasury
spokesman declined to comment on the notebook or whether intervention took
place; Treasury had notified several Wall Street banks it was considering
action. The last U.S. operation to support the yen was in 2011, when it sold
yen.
