Bessent says he believes Japan will take action leading to stronger yen
U.S. Treasury Secretary Scott Bessent looks on, as finance ministers and central bank governors from G20 countries meet in Asheville, North Carolina, U.S., August 31, 2026. REUTERS/Sam Wolfe
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ASHEVILLE, North Carolina, Aug 31 : U.S. Treasury Secretary Scott Bessent told CNBC on Monday that he believes the Japanese government and the Bank of Japan will take action that leads to a stronger yen.
“I have information that the market doesn’t have, and it’s my belief that the Japanese government and that the BOJ will do the things that will lead to a stronger yen,” he said.
When asked whether that meant raising interest rates, Bessent said: “I think the market’s pricing that in now.”
The yen gained against the dollar after Bessent’s comments, which suggested a strong chance the BOJ will raise interest rates at its next policy meeting in September.
The dollar was last down 0.23 per cent at 159.68 yen on Monday.
Bessent was speaking while hosting a Group of 20 finance leaders’ gathering in Asheville, North Carolina, which BOJ Governor Kazuo Ueda is attending. Bessent had said he was likely to meet Ueda on the sidelines of the meetings.
Source: Reuters
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