Bessent Shares View With Japan That FX Volatility Is Undesirable

US Treasury Secretary Scott Bessent echoed his Japanese counterpart Satsuki Katayama by characterizing excess foreign-exchange volatility as undesirable in another indication of tacit US approval of Japan’s recent market intervention.

“We both believe that excess volatility is undesirable,” Bessent said Tuesday in Tokyo, as he continued a day of meetings with senior officials in Japan including Katayama and Japanese Prime Minister Sanae Takaichi. He confirmed his team will maintain close contact with the finance ministry and said constant communication is the key to good outcomes.