Treasury Secretary Scott Bessent stated that the U.S. will not intervene in the foreign exchange market, despite speculation regarding the Japanese yen and the depreciation of the dollar.
Raluca Ioana Draghici
Economy
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Scott Bessent, the Treasury Secretary, dismissed speculation that the United States might intervene in the currency market, in the context of the Japanese yen being under observation for a possible intervention. Bessent clearly stated that the U.S. does not intend to intervene or strengthen the yen, emphasizing that U.S. monetary policy is based on a strong dollar, supported by solid fundamentals. Recently, the dollar index fell by 1.3%, reaching its lowest levels since 2022. Additionally, President Donald Trump expressed that he is satisfied with the current level of the dollar, even though it has depreciated by over 10% in the last 12 months, blaming China and Japan for the unfair devaluation of their currencies.
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