Treasury Secretary Scott Bessent has challenged currency traders to bet against him, asserting he holds asymmetric information on Bank of Japan policy.

Long-term government borrowing costs across major advanced economies surged to levels unseen since the 2008 financial crisis, driven by geopolitical tensions and inflation fears.

Global markets inched higher as investors awaited key US inflation data while balancing ongoing Middle East supply disruptions and central bank expectations.

Washington and Tokyo have taken rare joint action to support the Japanese yen following its steep slide to decades-long lows, according to recent reports.

The US Treasury has alerted financial institutions to a potential intervention in the yen market, marking a departure from standard monetary policy.

Global markets show resilience as an energy sector rally offsets the Japanese yen's decline to its weakest level since 1986. Investors are now closely watching upcoming tech earnings and central bank policy for signals on inflation.