US Treasury Secretary: 'Stronger Yen Reflecting Economic Fundamentals is Desirable'

US Treasury Secretary Scott Bessent stated on the 25th (local time) that he spoke over the phone with Japanese Finance Minister Satsuki Katayama and discussed that a stronger yen reflecting Japan's strong economic fundamentals is desirable.

Secretary Bessent made the remarks via X (formerly Twitter) on the same day, saying, "I had a productive call with Minister Satsuki today."

He added, "We discussed that a stronger yen reflecting Japan's solid economic fundamentals is desirable, as well as the importance of maintaining close communication regarding the foreign exchange market."

He also noted, "This conversation builds upon earlier discussions this week between President Trump and Prime Minister Sanae Takaichi, reflecting the robust cooperative relationship between the US and Japan."

Secretary Bessent's public mention of the necessity for a "stronger yen" is seen as a signal that the US is closely monitoring recent trends surrounding the weak yen.

Minister Katayama stated following a Japanese cabinet meeting that day that President Trump expressed concern over the weak yen during his summit with Prime Minister Takaichi on the 22nd.

The yen strengthened from around 164 yen per dollar down to the 155 yen level following joint currency intervention by the US and Japan in late July, but it has since turned weak again and is currently approaching the 160 yen level.

(Photo: Getty Images)
※ Please note: This article was translated by AI and may contain errors.