The US and Japan jointly intervened to buy the Japanese Yen for the first time in nearly 30 years, as the US Treasury Secretary's memo was exposed to outline a plan to purchase $50-100 billion.

BlockBeats News, August 1st. During a Cabinet meeting with President Trump at Camp David on Friday local time, U.S. Treasury Secretary Janet Yellen's to-do list was photographed and leaked, showing an entry to "Buy Yen $50-100 billion." The photo was taken during the media-open portion of the meeting at 11:33 a.m. Eastern Time. Yellen's name tag was clearly visible just above the notepad. A Treasury Department spokesperson declined to comment on the notebook's contents and whether any intervention measures were taken on Friday.

According to the Financial Times, the U.S. Treasury intervened in the yen exchange rate on Friday local time, marking the first joint U.S.-Japan direct purchase operation to support the yen in nearly 30 years. Three sources familiar with the matter revealed that the New York Fed, on behalf of the Treasury, conducted an unusual operation—selling euros to buy yen, with two sources stating that the transactions were carried out through Goldman Sachs and Morgan Stanley. Prior to taking action, the U.S. Treasury informed several Wall Street banks that it was considering intervening in the yen. The last time the U.S. Treasury intervened to support the yen dates back to 2011, but at that time, the direction was selling yen.