The dollar's global dominance is starting to slip. This was the tell.

Trump and Treasury Secretary Scott Bessent described last week’s historic joint intervention to support the yen as a goodwill gesture toward an ally. The news signals continued FX policy focus by the US, but provides no explicit details on size, timing, or follow-through.

Analysis

Trump and Treasury Secretary Scott Bessent described last week’s historic joint intervention to support the yen as a goodwill gesture toward an ally. The news signals continued FX policy focus by the US, but provides no explicit details on size, timing, or follow-through.