U.S. Treasury Secretary Bessent on yen intervention: If the yen depreciates, other currencies will follow.

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Atsushi Takeuchi, a former Bank of Japan board member who took part in Tokyo's intervention over a decade ago, said the US and Japan would "definitely" carry out joint intervention if the yen shows renewed weakness. He called the prior US-Japan action highly effective and said it created market consensus that the yen will not continue to weaken unilaterally; he sees USD/JPY trading in a 155-162 range near term and said he would not bet on USD/JPY if he ran a hedge fund. Takeuchi added that if the yen holds above 160 for about a week markets would treat that as a short-term bottom and begin to push the currency stronger.