WASHINGTON – The financial turmoil emanating from Britain and Japan is not yet enough to prompt the U.S. Treasury to intervene to buoy the battered pound or yen, with officials expressing no urgency to act, a stance foreign exchange market experts say is likely to hold unless much wider market disruptions develop.
The Treasury so far has voiced little concern that market volatility will meet that threshold, with the damage largely limited to pound- and yen-denominated assets, which in the United Kingdom’s case prompted the Bank of England on Wednesday to buy long-dated U.K. debt.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
