US Treasury Secretary Bessent said Washington coordinated foreign-exchange action with Japan last Friday to address what he described as disorderly moves in the yen, according to BlockBeats. He said the US government supports trusted partners and framed the US-Japan alliance around both economic and national security. Bessent added that the Treasury is closely monitoring developments and remains in close contact with officials at Japan’s Ministry of Finance and the Bank of Japan. He also said the US would not hesitate to join further coordinated intervention if needed. In addition, Bessent described the Foreign and International Monetary Authorities repo facility, or FIMA repo facility, as an important backstop and said its scale should be expanded in the coming months. He also voiced strong support for Japan’s market and monetary steps aimed at correcting what he called a sharply undervalued yen.
US Treasury Secretary Bessent said the United States coordinated foreign-exchange action with Japan last Friday to respond to disorderly moves in the yen, according to BlockBeats.
Bessent said the US government supports trusted partners. He added that economic security is national security, and said the US-Japan alliance is built on both. He also said the Treasury is closely monitoring the situation and remains in close contact with counterparts at Japan’s Ministry of Finance and the Bank of Japan.
He said the US would not hesitate to take part in further joint intervention. Bessent also called the Foreign and International Monetary Authorities repo facility, or FIMA repo facility, an important backstop, and said its size should be expanded in the coming months.
He added that the United States strongly supports Japan’s decisive market and monetary measures to correct the yen’s sharp undervaluation.
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