Bessent Sees Contained Yen Movements as BOJ Decision Looms

U.S. Treasury Secretary Scott Bessent said that recent movements in the yen were 'pretty well contained', indicating that Japan's currency decline does not represent disorderly trading.

Bessent made the comments in a Reuters interview, stating that he expects BOJ Governor Kazuo Ueda to do the right thing with support from Prime Minister Sanae Takaichi.

Bessent declined to direct the Bank of Japan on its monetary policy decisions but said he thinks they have likely reached the end of Abenomics, a reflationary program.