The US Treasury Department directly intervened in the foreign exchange market for the first time since 2011, joining Japan's Ministry of Finance over the weekend to prop up the yen. The joint operation, which reportedly involved the Treasury selling euros to buy yen, helped stabilize the exchange rate around 156 after the yen had hit its lowest level since 1986. Treasury Secretary Scott Bessent confirmed the intervention and said the US is ready to act again, citing the new US-Japan trade agreement as giving Washington a stronger interest in preventing sharp yen depreciation. Japan's own intervention, its second major move in three months, was estimated at roughly $36 billion. The coordinated action underscores growing concern over the yen's collapse and its potential to undermine the landmark trade deal, which includes up to $550 billion in Japanese investments into US industries.