U.S. Treasury Secretary Scott Bessent said the yen will settle at an appropriate level if the Bank of Japan continues to conduct the right monetary policy, Japanese media reported, citing a group interview.
Bessent declined to comment on the level of Japan’s currency, Kyodo News and Nikkei reported. The yen has declined against the dollar this month at a pace at least twice that of other major currencies, touching an eight-month low of ¥153.27 to the dollar on Friday. Receding speculation over a near-term BOJ rate hike has been a key factor in that move.
Bessent declined to comment on BOJ Gov. Kazuo Ueda’s next policy decision on Oct. 30, according to the Nikkei. The treasury secretary said merely that Ueda is very capable, according to the report.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.