US Treasury Informed Banks It May Intervene in Japan's Yen, Source Says

3-line summary

• The U.S. Treasury informed a number of banks, via the Federal Reserve Bank of New York, that it may intervene in the Japanese yen market and that they should "stand ready for future action," a source told Reuters.
• The notice comes a day after Japanese authorities stepped in to prop up the yen, setting it up for its biggest weekly rise since February after hitting four-decade lows against the dollar, per the report.

This summary is our own processing of the source article; see the source link below for full context.