..."they're gonna need a bigger boat..."

The US Treasury informed a number of banks that it may intervene in the Japanese yen market on Friday and that they should "stand ready for future action."

Japan and the U.S. may unveil a joint policy next week to defend the yen after record interventions in April and May.

Japan's finance ministry confirmed that Tokyo and Washington jointly intervened in currency markets to support the yen for the first time since 2011. The coordinated move…