🇺🇸

United States

Direct yen purchases

$5–10B via Treasury, Jul 31

FIMA repo facility

Lets Japan avoid selling Treasuries

Proposed limit expansion

Bessent floated raising $60B cap

🇯🇵

Japan

Record unilateral intervention

¥11.7T spent in April alone

Policy rate hike to 1%

Highest in 31 years, June 2026

Verbal warnings

Repeated "decisive action" signals

🇰🇷

South Korea

BOK rate hold

Preserved policy room

NPS hedge ratio to 15%

Up from 10%, plus ±5pp tactical band

Crisis-recognition index

New two-tier response framework

BOK–NPS swap extended

$65B line through end of 2026