US and Japan Pledge Continued Yen Intervention Coordination

Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent met in Asheville to discuss Japan's currency, the yen.

The two countries agreed to continue coordinating efforts to achieve an orderly move of the yen, which is crucial for global market stability.

Katayama stated that the agreement was a continuation of their joint intervention on the yen last month.

The yen has been sliding against the dollar, reaching around 160 per USD, which some market analysts consider to be a level at which currency intervention is likely.