- The Bank of Japan raised rates, but dissenting votes added a dovish signal.
- Treasury Secretary Scott Bessent says he is now “the house” in currency markets and points to a rare joint intervention to support the yen.
- Bessent’s house view on the yen runs counter to the BOJ’s dissenting votes.
Quotes
“The BOJ raised rates, but dissenting votes add “dovish signal” that runs counter to Treasury Secretary Scott Bessent’s house view on the yen”
“Treasury Secretary Scott Bessent says he’s now “the house” when it comes to currency markets, daring traders to bet against his “insight” into what Japanese monetary officials will do after his rare joint intervention to support the yen.”