United States Secretary of State Bison's particular tune: The Japanese yen is currently volatile and Abenomics is at its end

In an interview with Reuters last week, United States Treasury Secretary Besent stated that the recent movement of the Japanese yen exchange rate “was well controlled”. This statement clearly implies that US officials do not regard the recent further depreciation of the yen as an disorderly fluctuation. Last Friday, the United States dollar-Japanese exchange rate went up at 160, and on Monday the United States and Japan remained at the top of this level, which has traditionally been seen by the market as a warning line that may increase the likelihood of foreign-exchange intervention, and which has led to a high level of concern about whether the United States and Japan will be back on the market. Becent ' s current optimism stands in stark contrast to that of 31 July a month ago, when the United States and Japan engaged in a rare joint buy-in intervention. Becent had confirmed that the July operation was aimed at curbing the “sequenced” fluctuations of the yen in order to prevent the global spread of the yen and Japanese debt sales. At the macro-strategic level, Bésente stated in an interview that Japan had “win” deflation. He asserted that the “Abenomics”, initiated by the late Prime Minister Shinzo Abe in 2013 and aimed at breaking long-term deflation through massive stimulus, had come to an end. According to Becent, Japan has now shifted to “high-market economics”, dominated by the city, which will enable Japan to benefit from the dividends of past recovery policies. He noted that “high-market economics” was more focused on shareholder-friendly, particularly through significant deregulation in the labour market, which meant a decrease in government intervention。