U.S. Treasury Secretary Bessent is expected to meet Bank of Japan Governor Ueda on Monday at the G20 finance ministers meeting. Nomura’s chief economist said the yen dropping below 160 per dollar and 10-year JGB yields approaching 3% could prompt Bes

2026-08-31

U.S. Treasury Secretary Bessent is expected to meet Bank of Japan Governor Ueda on Monday at the G20 finance ministers meeting. Nomura’s chief economist said the yen dropping below 160 per dollar and 10-year JGB yields approaching 3% could prompt Bessent to urge Tokyo to adopt prudent fiscal policy and allow tighter monetary policy to curb risks from a weaker yen and falling bond prices. Nomura added the Trump administration may press Tokyo more forcefully than before—seeking assurances that Tokyo will avoid policies that hinder BOJ tightening in exchange for coordinated currency intervention—and Tokyo could signal readiness to cooperate with Washington on exchange-rate stability, raising the prospect of renewed joint intervention.