Yen Fluctuations Warned as Potential Global Market Threat

The U.S. Treasury Secretary has issued a warning about the risks of disorderly fluctuations in the yen, which could lead to forced closures of financial positions and destabilize global markets.

The statement was made by Scott Bessent, the American Secretary of the Treasury, in response to Senator Elizabeth Warren's questions about the joint currency intervention by the U.S. and Japan.

Last month, on July 31, the two countries intervened to buy yen, aiming to stop its depreciation. Although the yen initially appreciated, it began to lose ground again, approaching 160 yen to the dollar.