Japan and US Reaffirm Yen Undervaluation Concerns

Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent reaffirmed that the yen's undervaluation is a problem.

This was stated after an online meeting between the two officials, which focused on financial market developments in the region.

The yen has been experiencing weakness against the US dollar, with Japan and the US conducting their first concerted yen-buying currency intervention in nearly 28 years in late July.

Katayama and Bessent did not rule out further coordinated intervention in a statement released later.