Bessent Vows US Support for Japan's Yen Intervention Efforts

US Treasury Secretary Scott Bessent stated on Sunday that joint US-Japan foreign exchange action has successfully countered disorderly yen movements. He emphasized that the Trump administration strongly supports Japan's decisive market and monetary steps to correct the substantial undervaluation of the yen.

Bessent expressed his appreciation for Japan's efforts, saying that 'the US Treasury remains attentive and in close communication with counterparts at the Bank of Japan and Japan's Ministry of Finance.' He also warned that the US will not hesitate to participate in further joint intervention if necessary.