US Treasury Secretary Bessent intervenes in yen, signaling new currency activism

US Treasury Secretary Scott Bessent has intervened in the yen market, a move analysts describe as a new era of US 'currency activism' and a form of self-preservation. The intervention, which puzzled some observers, is expected to increase US pressure on Japan regarding trade and interest rates. A former Bank of Japan official suggests both countries are likely to intervene again if the yen resumes its slide, while Citi notes Japan has defense tools beyond Treasury sales. Japan's economy minister offered a sanguine view on inflation, suggesting a measured approach to economic challenges.