Scott Bessent fired a currency bazooka, but global finance still looks like a ‘giant Jenga tower’ propped up by a Japanese yen that’s in deep trouble | Fortune0

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• August 16, 2026

The first U.S.-Japan joint intervention in three decades aimed at boosting the yen has come and gone without doing much to ease anxiety in currency markets. Treasury Secretary Scott Bessent’s notepad suggested the U.S. bought $5 billion-$10 billion worth of yen, while Japan’s move topped $50 billion. The exchange rate initially strengthened to about 157 yen per