Trade
Bessent Brushes Off Stronger Yen Ahead of Trade Talks With Japan
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US Treasury Secretary Scott Bessent suggested he’s not concerned about the yen’s recent appreciation against the dollar, a sign that past interventions to strengthen the yen by Japan’s authorities won’t impede forthcoming trade talks between the two nations.
“In Japan, the yen has been strong, but that is the result of very strong Japanese economic growth, rising inflation expectations,” Bessent told Fox Business on Wednesday. As a result of the stronger domestic data “the Bank of Japan is raising rates, so all that’s natural,” he added.