Bessent Expects Japan to Act on Weakened Yen

U.S. Treasury Secretary Scott Bessent believes the Japanese government and Bank of Japan will take measures to strengthen the yen, which has been weakening despite a recent market intervention.

Bessent made this statement in an interview on CNBC, citing information that he says is not yet available to the public.

The treasury secretary has been pushing for the BOJ to raise its policy interest rate, as he believes it would lead to a stronger yen.