Japan, US Coordinate Efforts to Curb Yen Weakness

Japanese Finance Minister Satsuki Katayama is expected to announce on Monday that Tokyo and Washington are coordinating efforts to curb the yen's weakness in the foreign exchange market.

A person familiar with the situation, who wished to remain anonymous, revealed that the content of the announcement is still being worked on but could happen as early as Monday morning.

The Reuters news agency earlier reported that Katayama would confirm the joint action and reinforce the two sides' commitment to battle what they deem as excessive declines in the yen.