WASHINGTON DC - US Treasury Secretary Scott Bessent said the yen is undervalued, making an unusually direct assessment of the currency and signaling that Washington is unwilling to accept excessive weakness. "As that recognition spreads, the market should realize that the yen is undervalued, and the currency should strengthen," he said. He added that the Japanese currency had moved far beyond what could be considered its equilibrium level, indicating that its recent depreciation had gone too far. It is unusual for a US Treasury secretary to offer such a specific assessment of the yen's current value. The comments underscored the US government's position that it would not tolerate excessive weakness in the Japanese currency.