Japan and US Finance Chiefs Meet Amid Yen's Persistent Weakness

Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent held talks in Asheville, North Carolina, amid the yen's stubborn weakness.

The meeting comes a month after Japan and the United States conducted a joint currency market intervention to prop up the yen.

Bessent expressed concern that extreme volatility of the yen could result in higher U.S. interest rates, making it more expensive for Americans to borrow money.

The Japanese government has spent a record 15.4 trillion yen ($96 billion) over the past month to support the yen, but its weakness persists.