US Treasury warns banks it may intervene in yen
Move comes amid speculation Tokyo intervened to support the currency
Source: Financial Times
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DW NOTE
Washington is now threatening to intervene *against* yen strength — a move that would mean buying dollars to weaken the yen and defend US exporters. That's the Treasury Department explicitly rejecting the post-Plaza Accord consensus that currencies should float. When forex policy becomes a Cabinet-level weapon, the Bretton Woods II facade is over.