US Treasury Secretary Scott Bessent said the United States will not hesitate to conduct further intervention in the yen, according to reports. The remarks suggest the US remains open to additional action in currency markets.
The comment was reported by sources who attributed the stance to Bessent. However, the reports differ on the extent of Japan's involvement: one source indicates Bessent referred to 'joint yen' intervention, while another only describes his general openness to intervention without specifying a joint effort with Japan.
Japan also said it would not hesitate to conduct further intervention, according to one account. But other reports attribute the willingness solely to Bessent and do not mention Japan as a speaker, leaving the Japanese position unclear.
Updates
US Treasury Secretary Scott Bessent confirmed that the FIMA Repo Facility was utilized during Friday's coordinated foreign exchange intervention, which aimed to counter yen movements that sent the currency to new 40-year lows. Bessent also characterized the facility as a critical backstop and encouraged its capacity to be upsized in the coming months. The coordinated action was separately confirmed by Japan's Ministry of Finance and US President Donald Trump.
Treasury Secretary Scott Bessent revealed that the FIMA Repo Facility was utilized during Friday's coordinated foreign exchange intervention, which Japan's Ministry of Finance and President Trump have confirmed. Bessent, who noted the action countered yen movements driving the currency to 40-year lows, also encouraged the upsizing of the FIMA facility in the coming months. Additionally, he praised Prime Minister Sanae Takaichi's government for entering a new phase of Abenomics.
US Treasury Secretary Scott Bessent confirmed that the FIMA Repo Facility was used during Friday's coordinated foreign exchange intervention, which aimed to counter disorderly yen movements that pushed the currency to 40-year lows. Bessent also encouraged the upsizing of this lending facility in the coming months. Additionally, Japan's Ministry of Finance and US President Donald Trump confirmed the joint intervention action.
