Katayama Heads to G20 as Yen Weakness Lingers

Japanese Finance Minister Satsuki Katayama announced that she will attend next week's G20 finance leaders meeting in Asheville, North Carolina. The event is expected to focus on global economic discussions and international finance.

Katayama expressed her desire to contribute to these discussions, stating 'I would like to contribute in discussions around the global economy and international finance.'

Bank of Japan Governor Kazuo Ueda is also expected to attend the gathering. The BOJ has not confirmed whether Ueda will meet with U.S. Treasury Secretary Scott Bessent, but Bessent expressed his desire to discuss joint currency intervention.

The yen's recent decline has been a major focus for markets, particularly after last month's coordinated intervention between Japan and the US to prop up the currency. The yen has recently strengthened to 155.41 per dollar, but remains weak compared to its value near 164 per dollar hit last month.

Katayama emphasized the importance of the joint statement with Bessent on their intervention efforts, stating 'The statement with Secretary Bessent on joint intervention was a very strong one and still lives.'