US-Japan

yen

2026-08-12 03:18:45

Rare US-Japan Yen Push Faces Bessent-Takaichi Rift Over BOJ Policy

Japan and the United States have shown rare coordination in pushing the yen stronger, but a fundamental rift between U.S. Treasury Secretary Bessent and Japanese Prime Minister Takaichi Sanae over the Bank of Japan could weaken that joint effort, according to ChainCatcher. Bessent views tighter monetary policy as vital to addressing the yen's weakness, while Takaichi is cautious about raising interest rates and concerned about the impact on Japan's economic recovery. The BOJ's benchmark rate still stands at 1%. The two officials' differences on how the central bank should act stand out even as their governments align on the goal of a stronger yen, and those differences could undercut what the two sides are trying to achieve together.

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yen intervent

2026-08-10 12:10:55

Ueda's Rate-Hike Hint Led to First US-Japan Joint Yen Intervention in 28 Years

According to Kyodo News, multiple Japanese government officials disclosed on August 10 that the US and Japanese governments carried out an unusual joint yen-buying intervention on July 31, US Eastern Time — the first such action in 28 years. The decisive factor, they said, was Bank of Japan Governor Kazuo Ueda's strong hint at his press conference that day that policy rates would be raised as early as September and beyond. Ueda explicitly said the BOJ would "accelerate the pace of rate hikes" if necessary. The US gave a positive assessment, and the two governments aligned on preventing excessive yen depreciation. The officials said Washington is concerned that Japan's delayed rate hikes have left the yen too weak, fueling further price increases and higher long-term interest rates that could ripple across global financial markets. A senior Japanese government official said Ueda's remarks were highly persuasive to the US, and that the BOJ has no choice but to raise rates at its September 17-18 policy meeting.

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Scott Bessent

2026-08-05 00:47:37

US Treasury's Bessent: Washington Will Do Everything to Help Japan Stabilize Yen

US Treasury Secretary Scott Bessent said the United States will do everything it can to support Japan in stabilizing the yen, warning that further depreciation could spill into other Asian currencies and spark competitive devaluations. Bessent's comments follow last week's joint US-Japan intervention in the foreign exchange market, the first coordinated action between the two governments since 2011. According to Bessent, the yen's weakness has already raised import costs and stepped up inflation pressure in Japan. He cautioned that an additional slide in the currency could have broader consequences across Asia and lead countries to devalue in response. Intervention can send a useful signal to markets, Bessent said, but it must go together with monetary and fiscal policy adjustments. He also voiced confidence in Japan's new government as it pursues budget discipline, and in measures being taken by the Bank of Japan. Bessent emphasized that currency support alone is not enough, and that Japan's policy framework needs to back it up. The Treasury secretary's comments were reported by CryptoBriefing via Techub.

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