Dollar Plunges 3.3% Against Yen Amid Growing Currency Volatility Concerns

The US dollar plummeted by approximately 3.3% against the Japanese yen in one of its sharpest declines in over two years, sparking renewed speculation about government intervention in foreign exchange markets.

This sudden shift came as Japan and the United States signaled closer coordination on currency stability, with U.S. Treasury Secretary Scott Bessent warning that excessive volatility in currency markets is unhealthy for the global economy.

Bessent described the yen as 'very undervalued,' echoing concerns among Japanese officials who have been working to support their currency after years of weakness against the dollar.