# US Treasury joins Japan in buying yen in first joint currency intervention in more than a decade
> The US Treasury Department intervened in currency markets on August 1 to buy yen, joining Japan's Ministry of Finance in a coordinated effort to support the yen near 40-year lows; CNBC reported it was Washington's first yen-buying intervention with Tokyo in more than a decade; Nikkei Asia reported Scott Bessent's to-do list showed a planned purchase of US$5bn to US$10bn of yen

**Meta:** type: event · date: 2026-08-01 · heads: 谁的钱, 悄然的转变 · 3 takes · 3 lenses · 2 regions

## Summary

The US Treasury Department bought yen on August 1 in a coordinated move with [Japan's](/zh/entity/japan) Ministry of Finance, marking the first joint US-Japan currency intervention in more than a decade. Nikkei Asia reported that a leaked document showed Treasury Secretary Scott Bessent had planned to buy US$5bn to US$10bn of yen. CNBC confirmed the operation and noted the [Japanese Yen](/zh/entity/currency/japanese-yen) was near 40-year lows. The previous evening, the US Treasury had warned banks that further intervention was possible and to prepare for a potential yen-buying operation. The [Bank of Japan](/zh/entity/org/bank-of-japan) held its benchmark rate at 1% on July 31.

## The split

Nikkei Asia led the coverage with the Bessent document leak, giving the most specific figure on the scale of the operation. CNBC focused on the historical rarity of US intervention. Neither outlet reported an official US Treasury comment confirming the operation, relying on the Financial Times as the primary source.

## By the numbers

- US$5bn to US$10bn, planned yen purchase according to Bessent document, Nikkei Asia reported.
- Yen near 40-year lows at the time of the intervention.
- First US-Japan joint currency intervention in more than a decade, per CNBC.
- Bank of Japan held its benchmark rate at 1% on July 31.

## Why it matters

A joint US-Japan currency operation is rare and signals both governments are treating yen weakness as a shared problem rather than a bilateral trade irritant. It breaks from the usual division where Japan intervenes alone and US administrations stay out. Markets will watch whether the intervention holds or whether further action follows.

## What to watch

- Whether the yen stabilises or the intervention effect fades, triggering further rounds.
- Any official US Treasury statement confirming or denying the operation.
- How the Bank of Japan's rate path interacts with currency intervention going forward.

## Regional takes (batched by bias / lens)

### Japan's largest English-language business daily; first major outlet to confirm the actual US Treasury intervention, reporting that a leaked to-do list attributed to Treasury Secretary Scott Bessent showed a planned purchase of US$5bn to US$10bn of yen
- **Nikkei Asia** (Japan/East Asia, en) — Nikkei Asia confirmed the US Treasury intervention and reported a leaked document showing Treasury Secretary Scott Bessent's to-do list included buying US$5bn to US$10bn of yen, giving the most specific figure on the scale of the operation. The outlet placed the intervention in the context of Japan's Ministry of Finance having already acted.
  > "Scott Bessent's to-do list: Buy $5bn-$10bn worth of yen, Reuters photo shows."
  Source: https://asia.nikkei.com/business/markets/currencies/us-treasury-intervenes-to-support-the-yen-after-japan-steps-in-ft-reports

### US financial news network; provided the historical context, noting it was Washington's first yen-buying intervention with Tokyo in more than a decade, with the yen near 40-year lows
- **CNBC** (United States, en) — CNBC framed the US intervention as historically significant, noting it was the first time Washington had bought yen alongside Tokyo in over a decade. The network reported the yen was languishing near 40-year lows at the time of the intervention, and that the action came after Japan's Ministry of Finance had already stepped in.
  > "It was Washington's first yen-buying intervention with Tokyo in more than a decade as it languishes near 40-year lows."
  Source: https://www.cnbc.com/2026/08/01/us-treasury-intervenes-to-support-yen-after-japan-steps-in-ft.html

### unlabelled
- **Nikkei Asia** (Japan/East Asia, en) — 
  Source: https://asia.nikkei.com/business/markets/currencies/us-treasury-tells-banks-further-yen-intervention-possible-yen-surges

## Across the graph
- Related: [[boj-rate-july-0731]], [[yen-crash-0722]], [[japan-katayama-intervention-jul3]]
- Entities: Japan, Org:bank of Japan, Currency:japanese Yen, United States

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Canonical: https://rbtfl.xyz/zh/n/yen-intervention-0801