Yen Plummets After Bessent Ruled Out Currency Intervention

The yen sank against the dollar after Treasury Secretary Scott Bessent said the US is “absolutely not” intervening in the market for Japan’s currency.

Bessent’s comments sent the yen sharply lower against the dollar, halting a three-day rally. Meanwhile, the greenback rallied as Bessent reiterated that the US always has a preference for a strong currency, in a CNBC interview.