Katayama Warns Bold Action Possible as Japan Coordinates with US on Yen

Japan's Finance Minister Katayama has warned that his country will not hesitate to take bold action on the yen if necessary, according to a statement from the Ministry of Finance.

Katayama also stated that excessive yen selling may be corrected, and markets are 'misunderstanding' the weak yen. He emphasized that Japan will closely coordinate with the US on foreign exchange policies, following a summit meeting between Japanese PM Takaichi and US leaders where Trump voiced concerns over the weakening yen's impact on US trade.

Katayama expressed confidence in the Bank of Japan implementing suitable monetary policy while cooperating with the government. However, he declined to discuss specific forex levels or rate interventions, stating that such decisions are left to the central bank.