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U.S. and Japan Stabilize the Yen | Dayton News
The U.S. dollar just took a hit against the yen, falling from 164 to 156.80 yen — a move sparked by a secret U.S.-Japan currency stabilization pact. The Treasury sold euros to buy yen via big banks like Goldman Sachs and Morgan Stanley, while Japan’s finance minister confirmed buying yen to calm “excessive volatility.” This isn’t just about numbers — extreme swings could trigger global financial chaos, especially with energy crises already rattling markets. The Treasury is ready to act again, armed with its pandemic-era FIMA Repo Facility — capable of lending up to $60 billion to foreign…
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