U.S. Treasury Notifies Banks of Possible Yen Intervention

Washington, July 31 (Jiji Press)--The U.S. Treasury Department has informed a number of banks that it may intervene in the Japanese yen market, a Treasury source told Jiji Press on Friday.

The U.S. authorities reportedly conducted a rate check, asking financial institutions about exchange rate levels.

By signaling the possibility of intervention following the rate check, the U.S. side aims to curb speculative moves and demonstrate coordinated action between Japan and the United States to correct the yen's excessive weakness, analysts said.

On Thursday, the Japanese government and the Bank of Japan carried out a yen-buying, dollar-selling market intervention for the first time in about three months to stem the yen's depreciation, sources familiar with the matter said.

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