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Yen Steadies Near 160 as Bessent Backs BOJ Hikes

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JPY
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The Japanese yen steadied near the 160-per-dollar level on Tuesday after Bessent backed BOJ hikes, while most other currencies traded in a tight range.

The USD/JPY pair was around 159.81, with Bessent saying he believed the Japanese government and Bank of Japan would take actions to strengthen the yen.

This comes as Brent crude rose 0.7% to about $91.10 a barrel due to renewed geopolitical tensions between the US and Iran.

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