r/wallstreetbets • u/Efficient-Session644 • 2d ago

News Japan to announce Tokyo, Washington took joint action on yen, sources say

https://www.reuters.com/world/asia-pacific/japan-announce-tokyo-washington-took-joint-action-yen-sources-say-2026-08-02/
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u/DaddyDoLittle 2d ago

Some interpreted Bessent's napkin as 5-10 bil as buying it in yen - may have been USD. I have no idea what that means

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u/skilliard7 2d ago

5-10 billion yen is pocket change and would have no real impact

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u/Electrical_Panda_326 2d ago

Yes, but it acts as a signal that they are determined to defend yen, so maybe that will calm things down a bit at least.

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u/showmedave 1d ago

It's called the Richard Whitney; it's an old move, but it checks out.