US and Japan agree excess currency volatility undesirable
US Treasury Secretary Scott Bessent says Washington and Tokyo agree that excess currency volatility is undesirable. He expressed confidence in the Bank of Japan's policy as officials support the yen.
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United States Treasury Secretary Scott Bessent and Japan officials reaffirmed on Tuesday that excess currency volatility is undesirable. The coordination follows a USD/JPY surge to 157.72 before a sudden drop to 156.75 stoked intervention speculation. This alignment signals Washington's tacit approval for Tokyo to prop up the yen against rising import costs.
