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 rare joint Japan-U.S. intervention last month. The yen slid below the 160-per-dollar level on Friday, a threshold widely seen as increasing the likelihood of intervention, drawing market attention to whether the United States and Japan can step in to prop up the yen again. In an interview on Sunday, Bessent also said he expects Bank of Japan Gov.
Kazuo Ueda to “do the right thing” on monetary policy with the backing of Prime Minister Sanae Takaichi, when asked whether the central bank should consider consecutive interest rate hikes to combat yen declines.
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