Katayama and Bessent Reaffirm Yen Movement Support

Japanese Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent reaffirmed their commitment to orderly yen movements during a meeting in Asheville, North Carolina.

The two ministers agreed that 'orderly yen movements are indispensable for the stability of U.S. and global financial markets,' according to Katayama.

Katayama stated that Japan would not hesitate to take further action if necessary to support the Japanese currency.

The meeting comes after Japan and the US carried out a concerted currency market intervention in late July to prop up the yen.