Katayama Signals Possible Yen Intervention Amid Depreciation Concerns

Japan's Finance Minister, Katayama, has stated that excessive yen selling may be corrected. This comes after Japanese and US finance chiefs discussed the issue of yen depreciation in a recent meeting.

Katayama emphasized his respect for the independence of the Bank of Japan (BOJ), saying he would take bold action on the yen if necessary. He also noted that defense spending at 2% of GDP is 'not enough', indicating that Japan's current defense policy may not be sufficient.

The comments from Katayama follow a recent summit meeting between Japanese PM Takaichi and US President Trump, where Trump mentioned that the weak yen is pressuring US trade. The discussion highlights concerns about the impact of yen depreciation on global trade relationships.