The first U.S.-Japan coordinated purchases of yen in decades was ¡°a signal of friendship,¡± according to U.S. President Donald Trump. ¡°The Trump administration delivers for America¡¯s trusted partners,¡± Treasury Secretary Scott Bessent said.
Most observers doubt it was so simple.
¡°We know what the profile of Mr. Trump is ¡ª there are no free lunches,¡± said Jonathan Fortun, a senior economist at the Institute of International Finance in Washington.
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