G20 Talks to Focus on Japan-US Intervention Effectiveness

Japan and the US are set to discuss the effectiveness of their coordinated yen-buying intervention at the upcoming G20 finance ministers meeting. The intervention, which took place between July 30 and August 26, saw a total amount of ¥15.4 trillion (approximately $96.5 billion) in yen-buying, dollar-selling currency transactions.

The Japanese government and the Bank of Japan conducted the largest single-month yen-buying, dollar-selling intervention on record, surpassing the ¥11.73 trillion (approximately $73.5 billion) recorded during the April-May intervention period earlier this year.

Japanese Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent plan to hold talks on the sidelines of the G20 meeting to discuss the trajectory of long-term interest rates, which have been trending upward globally.