The US and Japan recently joined forces to intervene in the foreign exchange market to try to stabilize the yen exchange rate. However, this action failed to clearly contain the depreciation trend of the yen. Recently, the yen exchange rate once again broke through the low of 160 yen to the US dollar. In this context, the US “New York Times” reported on September 1, local time, that US Treasury Secretary Bessent criticized the Takaichi Sanae administration's economic policies at a closed-door dinner during his previous visit to Japan. He also asked “why are some of Takaichi's economic advisers advocating the benefits of depreciating the yen.”

The US and Japan recently joined forces to intervene in the foreign exchange market to try to stabilize the yen exchange rate. However, this action failed to clearly contain the depreciation trend of the yen. Recently, the yen exchange rate once again broke through the low of 160 yen to the US dollar. In this context, the US “New York Times” reported on September 1, local time, that US Treasury Secretary Bessent criticized the Takaichi Sanae administration's economic policies at a closed-door dinner during his previous visit to Japan. He also asked “why are some of Takaichi's economic advisers advocating the benefits of depreciating the yen.”