Treasury Secretary Bessent Dares Traders to Bet Against a Stronger Yen: ‘I Am the House'

U.S. Treasury Secretary Scott Bessent challenged traders to bet against his campaign to strengthen the yen, saying his coordination with Japanese officials gives him rare insight into the Bank of Japan's next moves.

He made the comment Tuesday at a Southern Methodist University event in Texas, defending his unusually direct role in Japanese currency policy.

"I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policymakers are going to do," Bessent said. "And you can bet against me if you want."

Bessent Doubles Down on Yen Support

The remarks add to an unusually direct effort by Bessent to prop up the currency. He has worked with Japan's finance minister, Satsuki Katayama, on currency intervention, and has pushed the Bank of Japan (BOJ) to raise interest rates.

A rate increase would support the yen and ease Japan's need to sell U.S. Treasuries to fund intervention. The BOJ may hike rates a quarter point at its Sept. 18 meeting, sources say.

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