markets·6d ago
Bessent Says Japan Yen Rescue Was an Asset Swap, Not a Loan
Treasury Secretary Bessent described the $97 billion yen intervention as an asset swap, with filings complicating Senator Warren's case.
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Treasury Secretary Bessent described the $97 billion yen intervention as an asset swap, with filings complicating Senator Warren's case.
Investment bank Goldman Sachs now predicts the yen will weaken to 165 per dollar within a year, citing persistent interest rate differentials.

A record build-up of speculative yen shorts could trigger a sharp squeeze if the BOJ signals tighter policy, impacting risk assets like bitcoin.