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US Treasury Secretary Bessent says uptick in Japan's inflation was the result of weak yen and energy prices, as energy prices come down and we no longer have excess yen weakness, will contribute to inflation coming down

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Bessent views Japan's inflation as a result of yen weakness and energy costs, expecting a 'virtuous cycle' through joint intervention and BoJ policy normalization to stabilize global markets.

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Says: Japan and the yen can go into a virtuous cycle. He is sure that BoJ Governor Ueda will do what is best for the Japanese economy.

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