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Bessent, Japan Say Won’t Hesitate on More Intervention

Strategists say the coordinated intervention between Japan and the US increases the risk for anyone betting against the currency. President Donald Trump said the US joined a currency-market intervention that lifted the yen last week as a sign of friendship with Japan.

Gold settled 1.4% lower, down two of the past three sessions, and silver fell 2.5%, down three of the past four sessions.

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“It was a signal of friendship,” President Donald Trump says after being asked why the US intervened to support the Japanese yen.