U.S. Also Moves to Curb Yen Weakness... Bessent: "Given Japan's Economic Fundamentals, a Stronger Yen Is Desirable"

[Financial News] U.S. Treasury Secretary Scott Bessent said a stronger yen would be desirable given Japan's economic fundamentals. His remarks are being interpreted as a sign that the United States is also watching exchange-rate movements as the yen has recently resumed its weakening trend.
On the 25th local time, Bessent said on X, "I spoke with Japanese Finance Minister Satsuki Katayama," adding, "We discussed the desirability of a stronger yen reflecting Japan's solid economic fundamentals and the importance of close communication on the foreign exchange market."
Earlier, President Donald Trump was also reported to have expressed concern about the yen's weakness during his summit with Prime Minister Sanae Takaichi on the 22nd.
The yen strengthened from around ¥164 per dollar to the ¥155 level after joint foreign-exchange intervention by the United States and Japan late in July, but it subsequently resumed its weakening trend. It is currently near the ¥160-per-dollar level.
[email protected] Hyun-ji Kim Reporter