US Treasury Secretary Bessent: Forex volatility is undesirable

FXStreetMay 12, 2026 7:33 AM

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US Treasury Secretary Scott Bessent said during the European trading session on Tuesday that he and Japan’s Prime Minister (PM) Sanae Takaichi both believe that forex volatility is undesirable.

Additional remarks

Discussed with PM Takaichi regarding President Trump's trip to Beijing.

Made no request to PM Takaichi regarding monetary policy.

In very close contact with Japan's finance ministry.

Discussed importance of US-Japan relationship with regard to Trump's China visit.

We both believe forex volatility is undesirable.

Japan economic fundamentals strong and resilient.

That will be reflected in exchange rates.

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