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Yen Crisis and Global Markets | US News
Treasury Secretary Scott Bessent just dropped a major warning: if the yen keeps crashing, it could trigger global market chaos and hike borrowing costs for the U.S. In a letter to Senator Elizabeth Warren, he revealed how the U.S. teamed up with Japan in July to buy yen—using the Exchange Stabilization Fund—to stop a potential freefall that could’ve rippled through global finance. Though the yen bounced back briefly, it’s now slipping again, hovering around 160 yen to the dollar, sparking fears of another intervention as the Fed hints at rate hikes. Bessent likened this move to last year’s…
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