Developing3 outlets · over 2 hours
US, Japan yen intervention stirs bitcoin carry trade fears
The U.S. and Japan coordinated yen intervention after USD/JPY neared 164, snapping back to 156.5. Treasury Secretary Scott Bessent confirmed further joint action is possible. Bitcoin's 52-week correlation with USD/JPY hit minus 0.90, suggesting U.S. dollar strength, not yen carry unwinding, drives crypto moves.
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