Trump Warns of Weak Yen Amid Rising Concerns Over Currency Manipulation
US President Donald Trump expressed concerns about the weakness of the yen during a meeting with Japanese Prime Minister Sanae Takaichi in New York, according to Japan's finance minister.
The yen rose after Trump shared his concerns, and Finance Minister Satsuki Katayama said that an undervalued yen was problematic. Katayama also stated that she would continue to coordinate with her US counterpart Scott Bessent on foreign exchange issues.
The meeting took place on the sidelines of the UN General Assembly, where Trump and Takaichi discussed a range of issues, including security and relations with China. Japan has pledged $550 billion in investment in the US.
Charu Chanana, chief investment strategist at Saxo Markets, described Trump's comments as 'jawboning' unless they are followed by actual policy coordination or intervention.