US Treasury Secretary Backs Japan on Yen Intervention

U.S. Treasury Secretary Scott Bessent has confirmed that the United States has intervened in Japan's currency policies to counter the weak yen, and is prepared for additional joint interventions if needed.

In a statement on X (formerly Twitter), Bessent expressed support for Japan's efforts to correct the undervaluation of the yen, saying 'We strongly support the Japanese government's decisive market and monetary policy measures'.

He added that the U.S. Treasury Department is in close communication with Japan's Ministry of Finance and the Bank of Japan, and will not hesitate to participate in further joint interventions if necessary.