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Yen Slump Fuels Japan Inflation, Warns US Treasury
4 Aug
Summary
- US Treasury Secretary Bessent links weak yen to Japan's inflation.
- He notes the risk of broader Asian currency depreciation.
- The US supports efforts to stabilize the yen and the situation.
Treasury Secretary Scott Bessent has indicated that the current weakness of the Japanese yen is a significant factor contributing to Japan's inflation issues. This economic pressure also raises concerns about the potential for a broader depreciation of currencies across Asia, he observed.
Bessent reiterated that the United States government supports ongoing efforts to stabilize the economic situation. The focus remains on managing the impact of currency fluctuations and their influence on inflation within Japan and the wider region.
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