US Treasury Secretary: Excessive Exchange Rate Volatility 'Undesirable'

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U.S. Treasury Secretary Scott Bessent said on May 2 that excessive foreign exchange market volatility is 'undesirable' and he would maintain close contact with Japan's Ministry of Finance. The statement comes amid significant global financial market fluctuations, especially involving the yen-dollar exchange rate.

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U.S. Treasury Secretary Scott Bessent stated on May 2 that excessive volatility in the foreign exchange market is 'undesirable' and that he would keep close communication with Japan's Ministry of Finance.

The remarks come amid heightened global financial market turbulence, particularly concerning the Japanese yen's exchange rate against the U.S. dollar. Secretary Bessent underscored the importance of stability in currency markets and pledged to cooperate with international partners.

The U.S. Treasury Secretary's statement followed a meeting with Japanese officials where the two sides discussed bilateral economic and financial issues.

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