Federal Reserve confirms January yen rate checks were requested by Treasury
The Federal Reserve confirmed today that January's yen rate checks were requested by the Treasury. The unusual move sparked global market intervention alerts.
The Federal Reserve confirmed on Wednesday that it requested dealers to provide indicative dollar/yen quotes last month at the request of the U.S. Department of the Treasury. This confirmation, detailed in the minutes of the Fed's Jan. 27-28 meeting, was published today, February 18, 2026, following the usual three-week lag. The disclosure strengthened the yen and put investors on alert for a possible joint currency intervention between the United States 
US and Japan 
JP, which would represent the first such coordinated action in 15 years.
US and Japan JP, which would represent the first such coordinated action in 15 years.
