Forex
Bessent Calms Yen Market Fears, Expects BOJ to 'Do the Right Thing'
US Treasury Secretary Scott Bessent said in a recent interview that Japan's yen movements have been 'pretty well contained', downplaying concerns about a potential disorderly trading situation.
The Japanese currency fell below the 160-per-dollar mark on Friday, prompting questions about whether the US and Japan would intervene to support it again.
Bessent declined to direct the Bank of Japan (BOJ) on its monetary policy decisions but expressed confidence that BOJ Governor Kazuo Ueda would 'do the right thing' with Prime Minister Sanae Takaichi's backing.