Yen Soars on Trump's Concerns About Weakness

The Japanese yen jumped to its best day against the dollar in nearly three weeks on Friday, as President Donald Trump expressed concern over its weakness during a recent bilateral summit.

Tokyo Finance Minister Satsuki Katayama revealed at a news conference that Trump raised concerns about the yen's slide during his meeting with Prime Minister Sanae Takaichi in New York on September 22. Katayama confirmed that Tokyo and U.S. Treasury Secretary Scott Bessent remained in close communication to counter excessive volatility following their joint market intervention in July.

The yen rose to as much as 156.94 against the dollar, but was still down 0.2% for the week. The dollar index was up nearly 1% for the week despite Friday's decline, lifted by energy-driven inflation concerns and a bond sell-off.