U.S. Treasury intervenes to support yen for first time since 2011

U.S. Treasury intervenes to support yen for first time since 2011

Washington coordinated with Tokyo to buy yen after the currency hit 40-year lows, according to the Financial Times.

The New York Fed sold euros to buy yen on behalf of the Treasury through Goldman Sachs and Morgan Stanley, according to the FT.

reuters +1

The move marks Washington's first direct yen support since 2011 and follows Japan's own intervention, reportedly worth nearly $59 billion on Thursday. aol +1

BOJ Governor Kazuo Ueda signalled he could accelerate rate hikes, calling the press conference "clearly hawkish," according to a Mizuho strategist. ft