18 Hrs
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المشهد العربي
Bicent supports Washington's intervention for Allen and bond markets
U.S. Treasury Secretary Scott Bissent defended Washington's intervention decision taken in late July to support the Japanese yen, confirming that violent fluctuations in the yen could lead to disruptions in the U.S. bond market, thereby increasing yields and raising borrowing costs for companies and households in the United States. He explained that Japan is a major holder of Treasury bonds, and any disturbance in the Japanese currency market could force investors to sell U.S. debt holdings, posing a risk to global financial market stability. Bissent did not disclose the exact monetary value of the intervention but indicated that it was based on foreign currency assets from the Foreign Exchange Stabilization Fund.
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