A Currency Trader at Heart, Bessent Bets on Japan’s Yen
U.S. Treasury Secretary Scott Bessent has placed a currency trade aimed at supporting the Japanese yen. The move reflects his background as a hedge‑fund manager and aligns with coordinated intervention by Japanese authorities. The strategy is intended to stabilize the yen without requiring Japan to reduce its holdings of U.S. Treasury securities.
- ▪Scott Bessent, the Treasury secretary, made a yen‑focused currency bet reminiscent of his hedge‑fund career.
- ▪The trade is part of a coordinated effort by Japan to bolster the yen while preserving its U.S. debt portfolio.
- ▪Bessent’s action is seen as an attempt to counter yen weakness amid global market pressures.
- ▪Analysts note that such intervention could influence foreign‑exchange markets without direct asset sales.
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| Original publisher | NYT — Home |
| Canonical URL | https://www.nytimes.com/2026/08/04/business/economy/bessent-yen-currency-support.html |
| Publication time | Tue, 04 Aug 2026 04:00:14 +0000 |
| Retrieval time | 2026-08-04T04:05:46.916Z |
| Last seen | 2026-08-04T04:05:47.410Z |
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Opening excerpt (first ~120 words) tap to expand
#masthead-section-label, #masthead-bar-one { display: none }U.S. EconomyTrade DeficitGrowth SlowedInflationInterest RatesWar and TariffsGas PricesAdvertisementSKIP ADVERTISEMENTYou have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.Supported bySKIP ADVERTISEMENTA Currency Trader at Heart, Bessent Bets on Japan’s YenCoordinated intervention allowed Japan to support its currency without selling off its U.S. debt holdings.Listen · 6:15 min Share full article22Scott Bessent, the Treasury secretary, last week returned to his roots as a hedge fund manager in making a currency bet to help stabilize Japan’s currency.Credit...Tierney L. Cross for The New York TimesBy Alan RappeportReporting from WashingtonAug.
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