Katayama and Bessent Reaffirm Need for Coordinated FX Action

Japanese Finance Minister Satsuki Katayama emphasized the need for continued, coordinated action on foreign exchange (FX) markets. This was confirmed by a discussion with US Treasury Secretary Scott Bessent.

Katayama shared that he and Bessent have a 'shared understanding' of the importance of joint FX intervention to maintain global financial market stability.

When questioned about current Yen rates, Katayama declined to comment. However, he did express concern over recent speculative forex moves that do not reflect fundamentals, stating that they can be problematic for FX markets.