U.S. sold euros for yen intervention to protect Treasury market

The United States funded its intervention to support the Japanese yen with euros rather than dollars during the week of July 27–31, 2026, departing from past practice. Instead of selling dollars as it had in previous interventions, Washington sold euros to avoid destabilizing the Treasury market, industry veterans told CNBC. On August 3, 2026, the euro strengthened to $1.1558, its highest in nearly two months. Amazon’s market capitalization surpassed $3 trillion for the first time on August 3, 2026, after a strong earnings report. HSBC reported a 60% year-on-year rise in second-quarter pre-tax profit to $10.1 billion on August 4, 2026, beating analysts’ estimates. The bank cited a $2.6 billion favorable impact from notable items. Saudi Aramco also exceeded expectations with a jump in second-quarter profit on the same day, amid higher oil prices. Hugging Face CEO Clément Delangue said on August 3, 2026, that China is leading in open-weight AI models and could overtake U.S. frontier models by the end of 2026 or in 2027. He told CNBC that China’s collaborative ecosystem contrasts with U.S. companies “building in silos.”