Japan and US Conduct Coordinated Yen-Buying Intervention

Japan's Finance Minister Satsuki Katayama revealed on Monday that Japanese authorities conducted a coordinated yen-buying intervention with the United States last Friday. The goal of this action was to curb excessive and disorderly yen movements in the foreign exchange market.

Katayama stated that officials will not hesitate to carry out further foreign exchange intervention with Washington if necessary. This decision comes after US Treasury Secretary Scott Bessent said that the coordinated FX moves on Friday curbed Japanese Yen swings.

The Bank of Japan (BoJ) is also involved in this process, and the Ministry of Finance remains vigilant, maintaining close contact with their counterparts at the Federal Reserve and the BoJ. The USD/JPY pair fell by 0.62% to 156.35 on Monday following the news.