A handwritten note seen during President Donald Trump’s Cabinet meeting has fueled speculation over possible U.S. intervention in currency markets. A Reuters photograph appeared to show Treasury Secretary Scott Bessent’s to-do list, including the entry: “Buy Japanese Yen (JPY) $5–10 bil.” Neither the Treasury nor Bessent has confirmed the note reflects official policy. The image surfaced after reports that the U.S. Treasury alerted major banks to prepare for possible yen market action, while Japan had already intervened to support its currency. Traders are closely watching signs of coordinated efforts to stabilize the yen.

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