U.S. Treasury Secretary Bessent: Asian Currencies Track Yen, Confident in BOJ Governor Ueda
U.S. Treasury Secretary Bessent noted that many Asian currencies, including the South Korean won and Chinese yuan, are currently moving in line with the Japanese yen. He also expressed strong confidence in BOJ Governor Ueda's market expertise.
In comments reported by Nikkei, Treasury Secretary Bessent highlighted the synchronization of Asian currencies with the yen. "Many Asian currencies currently follow the yen," he said, citing the South Korean won and Chinese yuan as examples.
Bessent also voiced strong support for Bank of Japan Governor Kazuo Ueda, describing him as "very market-savvy" and expressing great confidence in his leadership. The remarks come amid ongoing focus on BOJ policy normalization.
The statement underscores the yen's influential role in regional foreign exchange markets and signals U.S. comfort with the BOJ's approach.
Source: First Squawk