Japan and US Finance Chiefs Discuss Yen Weakness in Online Meeting

Japanese Finance Minister Satsuki Katayama met with US Treasury Secretary Scott Bessent in an online meeting to discuss the yen's continued weakness. The two finance chiefs reaffirmed their concern over the undervalued yen, which they see as a problem.

Katayama told reporters that excessive yen selling may be easing, suggesting there was some 'misunderstanding' in the market and that the trend could reverse.

Bessent had previously urged Tokyo to take steps to strengthen the yen, citing concerns that a weaker yen could fuel inflation in Japan and push up US Treasury yields.