It's interesting to observe how the US is taking an increasingly firm stance on currency manipulation issues. Scott Bessent, the Treasury Secretary, recently made it clear: America will not support any interventions regarding the yen, despite growing pressure on the Japanese currency.

It turns out that Washington prefers to adhere to the principle of free markets. Bessent explicitly emphasized at a press conference that any attempts to artificially adjust exchange rates go against American financial policy. It sounds logical — if every country starts interfering in currency markets, it will lead to chaos.

The fact is, Japan is clearly facing a weakening yen problem and seems to be considering unilateral actions to support it. But without support from the US, such intervention might prove ineffective and could even lead to additional market volatility.

This US approach aligns with their long-standing policy of non-intervention in currency markets, except in truly extreme situations. It appears Washington believes that the market will find its own balance, and forced intervention will only do more harm. It will be interesting to see how this affects the yen's dynamics in the coming weeks.