Treasury Secretary Bessent said coordinated FX action with Japan last Friday
addressed disorderly yen moves. The Treasury is closely monitoring markets and
in close contact with colleagues at Japan’s Ministry of Finance and the Bank of
Japan, and will not hesitate to join further joint intervention. He called the
FIMA repo facility an important backstop and encouraged expanding its size in
the coming months. Bessent said the US strongly supports Japan’s decisive market
and monetary measures to correct substantial yen undervaluation.
