Katayama Mum on FX Intervention as Japan Stabilizes Yen
Japan's Finance Minister Satsuki Katayama stated that she has no comment on whether there was foreign exchange (FX) intervention on Monday, according to Reuters. This response came after earlier comments from Katayama on Friday, where she revealed that Japanese authorities conducted a coordinated Yen-buying intervention with the United States.
Katayama emphasized that officials will not hesitate to carry out more FX intervention with Washington in the future if needed. The intervention aimed to tackle recent excessive and disorderly Yen moves, which have been causing market volatility.
US Treasury Secretary Scott Bessent also weighed in on the situation, stating that Friday's coordinated FX moves helped curb disorderly Japanese Yen swings. He added that the Treasury will remain vigilant and maintain close communication with counterparts at the Ministry of Finance (MoF) and the Bank of Japan (BoJ).