Treasury Secretary Scott Bessent obviously leaked this picture last week ahead of yen intervention, then actually followed through late in the day. I don't know what the point of leaking it was but the market isn't exactly sure what to do next. For now, the trade has stagnated as USD/JPY is sticking to 157.70. There has been talk about a BOJ rate hike but the vote last week wasn't particularly close and they would wreck their credibility with some kind of emergency hike now. All told, this is now just another manipulated market like oil, shares of Intel and plenty of others under this administration's gaze.