Bessent Backs Japan’s FX Steps Targeting Yen Undervaluation
U.S. Treasury Secretary Bessent voiced strong support for Japan’s decisive market and monetary actions to address the yen’s significant undervaluation, citing Friday’s coordinated moves as effective in curbing disorderly swings.
U.S. Treasury Secretary Bessent expressed forceful support for Japan’s recent currency market operations, calling them decisive steps to correct the yen’s significant undervaluation.
In a statement, Bessent said the coordinated foreign exchange actions on Friday successfully curbed disorderly yen fluctuations, signaling Washington’s tacit approval of Tokyo’s intervention.
The remarks add high‑level political backing to yen‑buying efforts, potentially easing fears of U.S. pushback and reinforcing a near‑term floor for the Japanese currency.
Source: First Squawk