Senior U.S. senators demand that Bessent explain the basis for intervening in the yen

U.S. Democratic Senator Warren asked Treasury Secretary Basent to explain the basis for the Trump administration's intervention in the yen. In a letter dated August 13, Warren pointed out that the government has not provided detailed justification and has not disclosed how much money was used to purchase yen.

Basent confirmed that the U.S. and Japan jointly intervened in the foreign exchange market for the first time since 1998 to support the yen, but did not specify the amount of funds.