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Bessent dares traders to bet against yen: ‘I am the house now’
The Japan Times • • general
Key Points:
- U.S. Treasury Secretary Scott Bessent asserted his strong position in influencing the Japanese yen, claiming he has insider-level insight into Japanese policymakers' actions.
- Bessent challenged traders to bet against his market interventions, indicating confidence in his ability to guide currency movements.
- He recently led the first U.S. government purchases of yen in 30 years and announced plans to increase U.S. Treasury buybacks to curb rising yields.
- Bessent's remarks reflect an aggressive and unconventional approach to managing currency and bond markets, despite skepticism from investors.
