U.S. Treasury Secretary says the yen "appears to be seriously undervalued"

On July 31, U.S. Treasury Secretary Scott Bessent said in an interview on Thursday that the yen "appears to be seriously undervalued" and believes "excessive volatility" is unhealthy. "In my opinion, the yen seems to be grossly undervalued," Besent said. Japanese yen is very cheap. Japan's economy is performing well. The Prime Minister is very popular and is implementing very strong policies." Bessent also said he was not worried about the yen strengthening against the dollar. (Jin Shi)