Mitsubishi UFJ analysts said a suspected yen-support intervention on Thursday mirrored prior operations, noting the timing — at month-end and before confirmation data due at the end of August — and that it occurred in the New York session. The timing and venue left "the clear impression that the action had full support of the U.S. government." U.S. Treasury Secretary Bessent said the yen appears "severely undervalued," and media reported the New York Fed sought dollar/yen quotes.