US Treasury Secretary Scott Bessent said on August 1 that Washington is not hesitant to intervene in currency markets together with Japan, a move analysts see as an effort to reassure markets amid yen volatility.
Speaking at an event in Washington, Bessent stressed that the US is ready to coordinate action with Japan to address abnormal developments in the foreign exchange market. The statement came as the Japanese yen continues to face depreciation pressure against the US dollar, prompting Tokyo officials to monitor the situation closely.
According to sources, this move reflects the US administration's increasingly open stance toward currency intervention, which Washington has traditionally viewed with caution. The US expressing no hesitation in coordinating could pave the way for joint actions to stabilize exchange rates if needed.
Japan has long voiced concern over the yen's weakness, as it pushes up import costs and affects consumers. The country has intervened in foreign exchange markets several times in the past, but unilateral measures have often yielded only short-term results.
Observers believe Bessent's statement could help ease tensions in US-Japan economic relations and set the stage for closer cooperation in managing global exchange rate volatility.
