Why the U.S. Sold Europe’s Currency to Save Japan’s

Disruption Banking
Why the U.S. Sold Europe’s Currency to Save Japan’s

On July 31st, Treasury Secretary Scott Bessent spent billions to buy Japanese yen and prop up the struggling currency, the first such intervention since the Asian financial contagion of 1998. The yen, having reached its lowest level against the U.S. dollar in nearly four decades, was also buoyed by Japan, which shelled out roughly $53

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