Bessent Shares View With Japan That FX Volatility Is Undesirable

Scott Bessent, left, with Satsuki Katayama in Tokyo on May 12.Source: Ministry of Finance

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By Erica Yokoyama and Sakura Murakami

May 12, 2026 at 1:19 AM UTC

Updated on

May 12, 2026 at 9:49 AM UTC

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.

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