Japan and US Maintain Currency Market Alignment

Japanese Finance Minister Satsuki Katayama reaffirmed her country's commitment to maintaining close communication with the US Treasury to ensure orderly foreign exchange movements. Speaking at a regular news conference on September 8, she said that Tokyo and Washington remain aligned in their approach to currency markets.

Katayama noted that Japan's policy stance has not changed since the July coordinated intervention to prop up the yen. The finance minister emphasized the importance of close communication with the US Treasury, citing recent talks with Treasury Secretary Scott Bessent during G20 meetings and other occasions.

The yen recently surged to a seven-month high, driven by expectations of faster Bank of Japan policy tightening and growing bets that Japanese investors could repatriate funds.