Bessent Suggests Japan May Have Intervened in Forex Markets

U.S. Treasury Secretary Scott Bessent suggested that Japanese authorities may have intervened in foreign exchange markets to support the yen.

Bessent made these comments during an interview with Fox Business, stating that 'excess volatility in the yen isn't healthy.'

He also noted that the Japanese yen seems undervalued and cheap, adding that 'the currency markets tend to overshoot.'

Bessent expressed confidence that the market will eventually realize the yen's undervaluation and strengthen accordingly.