US Treasury Secretary Challenges Yen Bears Amid Ongoing Currency Intervention

U.S. Treasury Secretary Janet Yellen has publicly advocated for yen appreciation, challenging traders to bet against her efforts to strengthen Japan's currency. Her comments follow a collaborative intervention by the U.S. and Japan in late July, amounting to approximately 15.4 trillion yen ($96.5 billion), aimed at stabilizing the yen which had recently hit a low of 164 yen per dollar.