Business & Economy · 37 views
“I Am the House Now”: 34 Years Ago, Bessent Helped Soros “Break the Bank of England.” Now He’s Daring Traders to Bet Against the Yen.
Bessent publicly declared he has "asymmetric information" on yen intervention and dared currency traders to bet against him.
Summary
Scott Bessent made his name helping George Soros destroy a central bank that tried to hold an artificial currency peg. Now he is sitting in that same seat, daring traders to bet against him on the yen. Since this article was first published, the Bank of Japan has raised rates to 1.25% and the yen briefly surged to a seven-month high before giving back some of those gains.
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