U.S. joined Japan's currency intervention for stability of Asia: Bessent

WASHINGTON (Kyodo) -- The United States sees the substantial undervaluation of the Japanese yen as a serious risk to economic stability in Asia, Treas

InterviewTreasury chief cites lessons from 1990s crisis as Washington joined yen-buying operationU.S. Treasury Secretary Scott Bessent speaks to Nikkei in August 2025. This year's interview, conducted Aug. 4, was Nikkei's second opportunity to speak to him exclusively. (Photo by Kosuke Takami)TAKESHI KAWANAMIAugust 5,

The man who once shorted currencies is now propping them up. “He takes risks that other Treasury Secretaries over the past two generations wouldn't.”

WASHINGTON - The US will do “whatever it takes” to support Japan’s effort to stabilise the yen, Treasury Secretary Scott Bessent said on Aug 4, following last week’s joint intervention by Washington and Tokyo to buy the Japanese currency.“We will do whatever it takes to support them in a way that helps the American eco

US will do 'whatever it takes' to support Japan after yen intervention, Bessent says  Reuters

Coordinated intervention allowed Japan to support its currency without selling off its U.S. debt holdings.

Treasury Secretary Scott Bessent said the U.S. bought yen alongside Japan to curb currency volatility and reduce risks to Asian markets.

Bid to support Japan’s currency shows US is ready to scupper trades that push against its interests

The yen surged more than 1 per cent to 155.20 per dollar after the announcement, its strongest since early May