'Buy $5-10 billion yen': Bessent's note hints at US plan to back Japan's currency

US Treasury Secretary Scott Bessent's notepad, photographed at a Camp David cabinet meeting, listed 'Buy Japanese Yen (JPY) $5-10 bil' under 'To Do'.

The Financial Times reported that the US and Japan intervened jointly to support the yen, with the New York Fed selling euros for yen via Goldman Sachs and Morgan Stanley.

Japan may have sold up to $58.97 billion on Thursday to buy yen, according to separate central bank data.

The dollar slipped about 0.8% against the yen after reports of US intervention, moving from around 158.9 to roughly 157.6 yen.

If confirmed, this would be the first direct US support for the yen since 2011, when G7 countries coordinated after Japan's earthquake and tsunami.