US Treasury Secretary Scott Bessent stated that the United States sees no issue with Japan maintaining its massive overseas asset accumulation. This statement comes as both countries conducted coordinated interventions to support the yen, which hit a 40-year low. The July 31 and August 1, 2024 operations enabled the purchase of yen for up to $10 billion. Japan has spent decades recycling its trade surpluses into foreign investments, with US Treasuries being a cornerstone of this strategy. The level of cooperation between Washington and Tokyo suggests a strategic alignment that extends well beyond bilateral trade.
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