US Treasury Secretary Scott Bessent said the yen will settle at an appropriate level if the Bank of Japan continues to conduct the right monetary policy, Japanese media reported, citing a group interview.
Bessent declined to comment on the level of Japan’s currency, Kyodo News and Nikkei reported. The yen has declined against the dollar this month at a pace at least twice that of other major currencies, touching an 8-month low of 153.27 to the dollar on Oct. 10. Receding speculation over a near-term BOJ rate hike has been a key factor in that move.