Bessent Warns Yen's Undervaluation Threatens Global Financial Markets

US Treasury Secretary Scott Bessent believes the Japanese yen is undervalued and has expressed support for Japan's efforts to address this issue.

During a meeting with Bank of Japan Governor Kazuo Ueda at the G20 Finance Ministers meeting in Asheville, North Carolina, on August 30, Bessent emphasized that Japan must formulate sound monetary policy to anchor inflation expectations and prevent excessive exchange rate volatility.

The US Treasury Secretary also stressed the importance of close coordination between the United States and Japan regarding their shared macroeconomic priorities.