Yen Steadies on Verbal Warnings Amid US-Japan Currency Cooperation

The Japanese yen has stabilized around 157.5 per US dollar on Tuesday, maintaining its recent gains thanks to verbal warnings from Tokyo's top officials.

Atsushi Mimura, Japan's top currency official, said that the country's prime minister and finance minister, along with the US, had delivered a 'very clear' message regarding FX depreciation.

This warning comes after Finance Minister Satsuki Katayama spoke about President Donald Trump raising concerns over the yen during a meeting with Prime Minister Sanae Takaichi last week.

Katayama also reaffirmed Japan's view that the yen is undervalued, and agreed to further strengthen cooperation between Japan and the US in a phone call with US Treasury Secretary Scott Bessent on Friday evening.