Bessent's Yen Surprise Puts Spotlight on BOJ's Next Move

U.S. Treasury Secretary Scott Bessent has sent a surprise signal to currency markets by predicting that the Japanese government and the Bank of Japan will take steps leading to a stronger yen.

Bessent said he has information not yet known to the market, but did not disclose what it was or specify actions Japan could take.

When asked if higher interest rates were involved, Bessent suggested that markets are already pricing in this possibility.

The yen strengthened after his comments, trading around ¥159.68 per dollar.