Yen Steadies Near 160 as Bessent Pressures Japan to Raise Rates

The yen held steady near 160 per dollar on Tuesday after US Treasury Secretary Scott Bessent's comments put pressure on the Bank of Japan to raise rates this month.

Bessent said he believed the Japanese government and central bank would take action that leads to a stronger yen, but markets are pricing in only a 73% chance of a hike from the BOJ later this month.

The attacks on oil facilities in the Gulf sent Brent crude futures above $91 a barrel, spurring a bond selloff and leaving investors cautious.