Bessent Says Yen Moves ‘Pretty Contained’ and Not Disorderly
Bessent said the yen’s slide is not disorderly as markets watch for intervention and the Bank of Japan’s next rate decision.
- On Sunday, Treasury Secretary Scott Bessent said recent yen moves are "pretty well contained," dismissing concerns of disorderly currency behavior ahead of his meeting with Bank of Japan Governor Kazuo Ueda at the Group of 20 gathering in Asheville, North Carolina.
- The Japanese currency slid below the 160-per-dollar level on Friday, a threshold widely seen as increasing the likelihood of intervention and drawing market attention to whether the United States and Japan can step in to prop up the yen again.
- Bessent stated Japan has "conquered" deflation and declared the end of Abenomics, announcing a shift to "Takaichi-nomics" under Prime Minister Sanae Takaichi, a policy emphasizing deregulation and shareholder-friendly measures.
- Expectations for Bank of Japan rate hikes have intensified ahead of the central bank's September 17–18 policy meeting, with investors betting on more aggressive moves to combat yen declines and wide interest rate divergence.
- Earlier this month, Takaichi's spending plans pushed the benchmark 10-year Japanese government bond yield to 2.945%, a three-decade high that has raised investor concerns about the country's towering debt pile.
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Bessent says yen moves ‘pretty contained’ and not disorderly - Regional Media News
By David Lawder and Leika Kihara ASHEVILLE, North Carolina, Aug 30 (Reuters) - U.S. Treasury Secretary Scott Bessent said recent yen moves were "pretty well contained," suggesting the Japanese currency's renewed slides were not seen as the kind of disorderly moves that led to a [...]
Japanese Yen moves 'pretty contained' and not disorderly
US Treasury Secretary Scott Bessent said on Sunday recent Japanese Yen (JPY) moves were “pretty well contained,” suggesting the Japanese currency’s renewed weakness were not seen as the kind of disorderly moves that led to a rare joint Japan-US intervention last month, Reuters reported. On China’s front, Bessent stated that Washington will hold ‘very robust’ talks […] The post Japanese Yen moves ‘pretty contained’ and not disorderly appeared …
Bessent says disorderly yen can destabilize markets
UNITED States Treasury Secretary Scott Bessent said disorderly moves in the yen could trigger “forced unwinds” of positions that risk destabilizing global markets and ultimately raising borrowing costs for US households and businesses.
Bessent warns yen volatility could ripple through global markets
In a letter responding to Sen. Elizabeth Warren, Bessent said sharp moves in the yen could trigger “forced unwinds” of financial positions, potentially destabilizing global markets and pushing up borrowing costs for U.S. households and businesses
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