Japan Warns of Yen Intervention Risk, BoJ Response Urged

9:12 AM ETDeveloping

Business Desk

In Short: Treasury Secretary Scott Bessent has warned of the risk of yen intervention, urging the BoJ to establish a tightening cycle beyond September.

Treasury Secretary Scott Bessent has issued a warning regarding the potential for intervention in the Japanese Yen market, according to reports from FXStreet. The statement underscores the need for a robust response from the Bank of Japan (BoJ), particularly in terms of initiating a tightening cycle that extends well beyond September.

FXStreet reports that the BoJ must take a more significant action, emphasizing the importance of a tightening cycle that persists beyond the current month. The recent data, which highlights Japanese selling of U.S. Treasurys, has had minimal immediate market impact, but it has underscored the risks to the U.S. economy, according to the same source.

What's still developing

Single-source account; further confirmation still arriving.

Sources

FXStreetlink