Bessent Says Recent Yen Moves Are Well Contained
U.S. Treasury Secretary Scott Bessent stated that recent yen declines remain well contained and lack the disorder that prompted joint intervention last month. Bessent expects Bank of Japan Governor Kazuo Ueda to act appropriately on monetary policy as Japan transitions to Takaichi-nomics.
Insights:
United States Treasury Secretary Scott Bessent said recent yen moves were contained and not disorderly, downplaying the currency's slide below 160 per dollar. The remarks contrast with Washington and Tokyo's joint currency intervention a month ago. Bessent expects Bank of Japan Governor Kazuo Ueda to pursue appropriate monetary policy.
