Bessent Says Yen Moves Not Disorderly, Praises Takaichi's Deregulation Efforts

U.S. Treasury Secretary Scott Bessent downplayed concerns over recent yen moves, describing them as 'pretty well contained' and not disorderly.

This assessment comes after the Japanese currency slid below the 160-per-dollar level on Friday, a threshold widely seen as increasing the likelihood of intervention.

Bessent also expressed confidence in Bank of Japan Governor Kazuo Ueda to make the right monetary policy decisions with the backing of Prime Minister Sanae Takaichi.

He noted that Abenomics, launched under former Prime Minister Shinzo Abe in 2013, had likely reached its end as a reflationary program and suggested that 'Takaichi-nomics' was more shareholder-friendly and less interventionist.