US Won't Intervene in Yen, Bessent Affirms Strong Dollar Policy

• Treasury Secretary Scott Bessent stated the US is "absolutely not" intervening in the currency market to strengthen the Japanese yen.
• Bessent reiterated the long-standing "strong-dollar policy," cooling speculation about foreign-exchange intervention.
• The yen tumbled by about 0.9% against the dollar following Bessent's remarks, reaching 153.51.
• President Donald Trump previously indicated comfort with the dollar's recent decline, stating, "I think it's great."
• Japan's currency has been tumbling since October, nearing its weakest level since 1986, prompting warnings from Japanese authorities about potential action.

Why It Matters: US Treasury Secretary Bessent confirmed no intervention in yen, upholding the strong-dollar policy despite yen's tumble.