Japan, US Finance Chiefs Reaffirm Currency Market Intervention Importance

Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent met in Asheville, North Carolina on Monday to discuss currency market intervention.

The meeting took place on the sidelines of a gathering of the Group of 20 finance ministers and central bank chiefs.

Katayama stated that orderly yen movements are indispensable for the stability of U.S. and global financial markets.

The two ministers reaffirmed the importance of concerted currency market intervention, which was carried out in late July to prop up the yen.