Japan and US Vow Continued Currency Coordination Amid Yen Slump

Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent met on Monday to discuss currency coordination. The meeting was held on the sidelines of the G20 finance leaders' gathering in Asheville, North Carolina.

Katayama stated that Japan and the US agreed to continue coordinating to achieve 'orderly' yen moves, which are crucial for global market stability. She noted that there's no change to their position of standing ready to act if markets make disorderly moves.

The bilateral talks were the first face-to-face meeting between the two since last month's Japan-US coordinated yen intervention. Katayama declined to comment on whether the yen's recent slide near 160 per dollar was orderly, saying it was hard to judge what factors are driving exchange-rate moves.