U.S. Treasury Secretary Bessent told CNBC he has a good working relationship
with Japan’s finance minister Katayama and that the U.S. and Japan are closely
coordinating to curb yen depreciation. He said establishing an intervention
framework is important, that a stable yen is vital to the U.S. and the region,
and warned yen weakness could spill into other currencies. Bessent declined to
pre-judge Bank of Japan actions but said he expects necessary steps and that
intervention must be accompanied by policy follow-up.
