Treasury Secretary Scott Bessent’s suggestion of a no-limits approach toward helping Japan rescue the yen risks getting called out by market participants flagging his limited firepower to do the job.
91AV原创 currency slid as much as 1% Monday to past ?159 per dollar, wiping out half the rally triggered by the July 31 U.S.-Japan intervention. The exercise, the first coordinated effort since 1998, had lifted the currency near ?155 before the retreat resumed.
In the wake of that unusual operation, Bessent said “we will do whatever it takes to support them in a way that helps the American economy, the American taxpayer, stabilizes the global economy.”
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