US and Japan Agree to Continue Currency Coordination
Japan and the United States confirmed they will continue coordinating to ensure orderly yen movements after meeting in North Carolina. Finance Minister Katayama stated both nations stand ready to act against disorderly market moves.
Japan and the United States reaffirmed plans to maintain coordinated currency intervention to stabilize USD/JPY following a slide toward 160. The bilateral talks took place on Monday on the sidelines of the Group of 20 finance leaders gathering in Asheville, North Carolina. The currency pair has hovered near 160, drawing market scrutiny after a prior joint intervention last month briefly lifted the currency from a 40-year low of 164.
Finance Minister Satsuki Katayama stated that both nations stand ready to address disorderly market moves. However, U.S. Treasury Secretary Scott Bessent described recent currency movements as well-contained, signaling a divergence in views on market volatility.
