Trump Warns Japan Over Weak Yen, Fueling Currency Pressure

U.S. President Donald Trump raised concerns about Japan's weak yen during his summit with Japanese Prime Minister Sanae Takaichi in New York on Tuesday, according to Finance Minister Satsuki Katayama. This adds pressure on Tokyo as the currency remains near levels that prompted repeated intervention.

The yen has remained weak despite a rare coordinated currency intervention by Japan and the United States in late July. The Japanese government had consulted with the Prime Minister's Office before making the exchange public, and Katayama said she had discussed it with Treasury Secretary Scott Bessent.

Japan's Finance Ministry confirmed on August 3 that it purchased yen in coordination with the U.S. Treasury on July 31, following a sharp decline in the Japanese currency. The coordinated action marked the first joint U.S.-Japan intervention to purchase yen since 1998.