The U.S. Treasury bought yen on Friday to support the Japanese currency, marking Washington’s first coordinated yen-buying intervention with Tokyo in more than a decade. The yen has been languishing near 40-year lows, with the dollar recently rising to nearly 164 yen, its highest since 1986. A photo of Treasury Secretary Scott Bessent’s notepad showed a plan to buy 5 to 10 billion dollars worth of yen. Japan may have sold as much as 58.97 billion dollars to buy yen on Thursday to stem the yen’s weakness. The two countries could unveil a joint policy as early as next week to counter speculative bets, Kyodo news agency reported.
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