US Treasury Secretary Scott Bessent confirmed on August 1 a coordinated intervention with Japan to buy yen, involving between $5 billion and $10 billion. This operation marks Washington’s first forex intervention in over a decade, signaling a significant shift in US currency policy. The United States collaborated with Japan’s Ministry of Finance and the Bank of Japan in this joint intervention, as the yen was trading at levels not seen in nearly 40 years against the dollar. This dollar-negative move could have positive implications for risk assets such as Bitcoin, as a weaker dollar has historically correlated with stronger BTC performance.
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