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US Treasury and Japan intervene to support yen amid sharp depreciation
On 31 July 2026 Japanese authorities, including the Finance Ministry and the Bank of Japan, carried out a yen‑buying, dollar‑selling intervention to curb the currency’s slide. The move pushed the yen from around ¥163 per dollar to the low ¥157 range. The United States Treasury joined the effort, with the New York Federal Reserve selling euros to purchase yen on behalf of the Treasury – the first joint outright purchase with Japan in nearly three decades. Treasury Secretary Scott Bessent’s notepad, photographed at Camp David, listed a “Buy Japanese Yen $5‑10 billion” to‑do item, and the Treasury warned banks to stand ready for possible future action. Japanese officials estimated the intervention cost between $53 billion and $59 billion, while the U.S. side was set to buy up to $10 billion. South Korean authorities also took part in a coordinated market operation, supporting the won alongside the yen. The Bank of Japan kept its short‑term policy rate unchanged at 1 % on the day, and the yen subsequently settled near ¥159 per dollar, reflecting the combined impact of the coordinated actions.
Entities
Alphabet (Google) · Atsushi Mimura · Bank of Japan · CAPE ratio · Cyclically Adjusted P/E (CAPE) ratio · Dow Jones Industrial Average · Evercore · Federal Reserve · Japan · Japan (government) · Japan Ministry of Finance · Japanese Ministry of Finance
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The S&P 500 CAPE ratio is at its highest level in more than 25 years.
- [○ 1 SOURCE] The S&P 500 is trading near 7,481 with resistance at 7,522 and support at 7,412.
- [● 4 SOURCES] The S&P 500 is up more than 8% year‑to‑date.
- [○ 1 SOURCE] A break below the floor at 7,412 could pull the index down to 7,357.
- [○ 1 SOURCE] The CAPE ratio is the second‑highest ever recorded, after a peak of 44 in 2000.
- [○ 1 SOURCE] In 2023‑2026, the S&P 500 total return of 9% exceeds the Nasdaq Composite’s 7.8% return.
- [○ 1 SOURCE] The Nasdaq underperformed due to a tech sell‑off while the Dow and S&P 500 outperformed.
- [○ 1 SOURCE] A break above 7,522 could target 7,574 and then 7,631.
- [○ 1 SOURCE] The S&P 500 was trading at 7,429 on July 29.
- [● 2 SOURCES] The Federal Reserve kept its policy rate unchanged at a target range of 3.50%–3.75%.
- [○ 1 SOURCE] TradingShot predicts a potential 10% correction in the S&P 500, targeting a decline to around 6,865.
- [○ 1 SOURCE] SPY turned positive at $742 following the Fed decision.