Forex
US Treasury Secretary Backs Decisive Monetary Measures in Support of Japan
US Treasury Secretary Scott Bessent met with Bank of Japan Governor Kazuo Ueda on August 30 while attending a G20 meeting.
Bessent expressed strong support for Japan's market intervention and monetary policy measures to address the yen's undervaluation, which he believes is contributing to inflationary pressure in Japan.
The US Treasury Department stated that Bessent highlighted the importance of formulating and communicating monetary policy effectively to stabilize inflation expectations and avoid excessive volatility in foreign exchange markets.