U.S. Treasury Secretary Scott Bessent on Wednesday ruled out his country intervening in the currency market to prop up the Japanese yen, and said that Washington remains supportive of a "strong dollar policy." Bessent said in a CNBC interview that the United States is "absolutely not" intervening in the dollar-yen market, when asked to confirm the administration's stance as the Japanese currency's value has sharply increased versus the dollar in recent days. "A strong dollar policy means setting the right fundamentals," Bessent said. His remarks, which immediately led to a rebound in the dollar, also came after President Donald Trump said Tuesday that the current value of the U.S. currency was "great." The yen had risen sharply against the dollar since Friday, driven by growing caution over a potential coordinated intervention by Japanese and U.S. authorities.