US Treasury Joins Forces with Japan to Support Yen

U.S. Treasury Secretary Scott Bessent confirmed that Washington has joined forces with Japan to support the yen, stating that the U.S. stands ready to intervene again if needed.

In a recent statement on X, Bessent acknowledged that the coordinated intervention in the foreign exchange market was aimed at countering 'disorderly yen movements.'

'We strongly support Japan's decisive market and monetary steps to correct the substantial undervaluation of the yen,' Bessent wrote.

The U.S. Treasury Secretary emphasized the collaborative relationship between Washington and Tokyo, stating that Treasury remains in close communication with its Japanese counterparts.