Bessent Downplays Yen Decline, Expects BOJ to 'Do the Right Thing'

U.S. Treasury Secretary Scott Bessent downplayed recent yen moves, calling them 'pretty well contained' in an interview with Reuters.

The comments come as the yen has slid below the 160-per-dollar level, a threshold that some see as increasing the likelihood of intervention by the United States and Japan.

Bessent also expressed confidence in Bank of Japan Governor Kazuo Ueda to 'do the right thing' on monetary policy, citing his experience working with Ueda for 15 years.