US 'strongly' backs Japan's move to adjust overly cheap yen

In a statement, US Treasury Secretary Scott Bessent said the US “strongly” supports measures Japan is taking to address the yen being priced too cheaply.

The remarks come as the Japanese yen has remained persistently weak, pressuring the nation's economy and fueling concerns about possible currency intervention.

Analysts say the US endorsement reflects increasingly close monetary policy coordination between the two countries amid volatile foreign exchange markets. The move is also seen as a positive signal for investors, as Washington and Tokyo may act together to stabilize exchange rates.

Details on the specific steps Japan will take have not yet been disclosed, but Japanese officials have repeatedly warned they will intervene if the yen continues to weaken excessively.