US Treasury Secretary Seeks Stronger Yen Amid Growing Concerns

US Treasury Secretary Scott Bessent has caused a stir in Japan's financial circles by publicly calling for a stronger Japanese yen. In a phone call on October 25 with Japanese Finance Minister Satsuki Katayama, Bessent stated that 'a stronger yen, reflecting Japan's robust economic fundamentals, is desirable.'

This statement follows discussions earlier this week between US President Trump and Japanese Prime Minister Sanae Takaichi. During their summit on October 22, President Trump expressed direct concerns about the weak yen to Prime Minister Takaichi.

The recent weakness of the yen has raised alarm, with its value near the 160 mark after strengthening from around 164 yen to the dollar in late July to 155 yen following joint currency intervention by the US and Japan. Bessent's comments suggest that the US is increasingly scrutinizing the yen.