Bessent Defends 'Modest' Cost of US-Japan Joint Yen Intervention
4 Articles
4 Articles
Bessent defends 'modest' cost of US-Japan joint yen intervention
U.S. Treasury Secretary Scott Bessent on Tuesday defended his agency's participation with Japan in a joint currency intervention to prop up the Japanese yen at a "modest" cost, arguing that this was good for U.S. exporters and interest rates. Bessent told a House Financial Services Committee hearing that the U.S. was able to signal its support for Japanese policies, including Tokyo's desire for a stronger yen, for a "modest amount" of U.S. resou…
With a kind of "Whatever it takes", the US finance minister warned speculators of further bets against the yen. With the next interest rate step, the bank of Japan wants to succumb. Is that enough to strengthen the yen again?
The US Treasury Department used only a “marginal” amount in the coordinated intervention to strengthen the Japanese currency.
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
