Bessent Downplays Concerns Over Yen Slides

U.S. Treasury Secretary Scott Bessent downplayed concerns about recent yen movements, describing them as 'pretty well contained' and not indicative of disorderly market behavior.

Bessent's comments came on Sunday in an interview with Reuters, where he also addressed the possibility of Bank of Japan Governor Kazuo Ueda implementing consecutive interest rate hikes to combat yen declines.

When asked if the BOJ should consider aggressive rate hikes, Bessent said, 'I'm not going to tell them what to do.'

However, he did express his expectation that Governor Ueda would 'do the right thing' on monetary policy with Prime Minister Sanae Takaichi's backing.