Japan, US Vow to Coordinate Yen Stabilization Efforts

Japan and the US reaffirmed their commitment to coordinating efforts to stabilize the yen after recent market turmoil. During a meeting on the sidelines of a G20 gathering in Asheville, North Carolina, Japanese Finance Minister Satsuki Katayama met with US Treasury Secretary Scott Bessent.

Katayama said that both countries agreed continued coordination was essential for maintaining global financial stability and ensuring orderly movements in the yen. The two officials also reaffirmed the significance of their joint intervention in the foreign exchange market, which took place just over a month ago.

The US Treasury Secretary had previously stated his expectation that Japan would take further steps to strengthen its currency. However, Katayama declined to comment on whether recent movements in the yen were orderly, stating only that Tokyo remained prepared to act decisively against disorderly fluctuations.