{
  "id": 7591940,
  "title": "Bessent defends 'modest' cost of US-Japan joint yen intervention",
  "url": "https://urgent.news/2026/09/15/bessent-defends-modest-cost-of-us-japan-joint-yen-intervention",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T17:02:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/world/20260916/bessent-defends-modest-cost-of-us-japan-joint-yen-intervention"
  },
  "original_language": "en",
  "account": null,
  "summary": "US Treasury Secretary Scott Bessent defended the US's participation in a joint currency intervention with Japan to support the yen. According to Bessent, the intervention was done at a \"modest cost\" and was beneficial for US exporters and interest rates. A stronger yen, he argued, means the Japanese government does not have to sell US assets to defend its currency.\n\nBessent also stated that the US dollar remains the world's reserve currency, citing rising global transaction volumes as evidence of continued confidence in the US financial system. He attributed this to the Trump administration's efforts to provide regulatory, tax, trade, and energy certainty, which have attracted trillions of dollars into the United States.\n\nThe dollar's strength, Bessent said, should not be assessed solely by its exchange-rate value, but also by global economic behavior and demand for US financial assets. He noted that some countries have reduced their holdings of US dollar reserves, mainly driven by Russia and China, according to Live Mint.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Live Mint",
        "title": "‘Strong dollar is not a price on a screen’: Bessent defends US currency as global transactions rise",
        "url": "https://urgent.news/2026/09/15/strong-dollar-is-not-a-price-on-a-screen-bessent-defends-us-currency",
        "published": "2026-09-15T15:36:32.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Bessent defends 'modest' cost of US-Japan joint yen intervention",
        "url": "https://urgent.news/2026/09/15/bessent-defends-modest-cost-of-us-japan-joint-yen-intervention-7594153",
        "published": "2026-09-15T17:12:04.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Bessent calls US yen intervention \"nominal,\" defends trade",
        "url": "https://urgent.news/2026/09/15/bessent-calls-us-yen-intervention-nominal-defends-trade",
        "published": "2026-09-15T17:22:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}