Katayama's Yen Concerns Intensify as USD/JPY Trades Near 157.35

Japanese Finance Minister Kozue Katayama has reiterated concerns about the yen being undervalued, sparking attention on potential future moves. During Asian trading hours on Tuesday, September 29, the USD/JPY pair traded in a narrow range around 157.35.

Katayama's comments came after her telephone conversation with U.S. Treasury Secretary Bessent on September 25, where they agreed to strengthen cooperation and maintain close communication to ensure orderly foreign-exchange market conditions.

When asked about the yen, Katayama stated that 'in general, an undervalued yen is a problem.' This sentiment aligns with Bessent's view from their call on September 25, where he expressed that a strong yen reflecting Japan's economic fundamentals would be desirable.