US Treasury Secretary Backs Yen Support, Warns Against Excessive FX Volatility

US Treasury Secretary Scott Bessent met with Bank of Japan Governor Kazuo Ueda and expressed support for Japan's efforts to address the undervaluation of the Yen.

Bessent emphasized the importance of sound monetary policy formulation and communication in anchoring inflation expectations, a key aspect of monetary policy that helps stabilize the economy.

He also urged the BOJ to avoid excessive volatility in foreign exchange rates, which could have negative consequences for the global economy.