Bessent Dares Traders to Bet Against Yen After 30-Year U.S. Intervention

3 articles · Updated · The Japan Times · Sep 9

Scott Bessent said traders can "bet against me if you want," arguing he now has unusually strong insight into how Japan’s government and central bank will act on the yen.
At a Texas event Tuesday, the U.S. Treasury secretary said that when Washington intervenes in the Japanese currency, he is effectively operating with inside knowledge of Japanese policymaker intentions.
The remarks sharpen one of Bessent’s most aggressive efforts yet to steer markets despite investor skepticism, extending a campaign that has already included direct verbal pressure on traders.
That push follows the first U.S. purchases of yen in three decades and came weeks after Bessent also surprised investors by expanding Treasury buybacks to contain rising U.S. yields.