Japan Stays Close to US on FX Amid Yen's Rapid Strength

Japanese Finance Minister Satsuki Katayama has assured that Tokyo remains in close contact with the U.S. Treasury to ensure orderly movements in the foreign-exchange market.

This move comes as the yen continues to strengthen, reaching a value of about 153.58 against the dollar, up from near 160 per dollar just a week ago.

The recent GDP growth revision and sharp rise in July wage growth have reinforced expectations for another interest-rate increase by the Bank of Japan.