Japan and US Agree to Boost Exchange Rate Communication
Finance Minister Katayama and Treasury Secretary Bessent agreed to coordinate on currency moves in Washington. The yen remains near the 160 per dollar level.
Finance leaders from Japan and the United States have reached a formal agreement to enhance their dialogue regarding foreign exchange markets. The move comes as the Japanese currency faces significant downward pressure, prompting concerns over economic stability.
Japanese Finance Minister Satsuki Katayama confirmed the arrangement following a high-level meeting with U.S. Treasury Secretary Scott Bessent in Washington. Katayama is currently in the U.S. capital to participate in the International Monetary Fund (IMF) meeting, alongside sessions with G7 and G20 finance leaders. Following the talks, Katayama noted the shared commitment to monitor currency fluctuations more closely.
