Japan’s finance minister to attend G20, market focus on yen debate

Japanese Finance Minister Satsuki Katayama announced her attendance at the upcoming Group of 20 finance leaders' meeting in Asheville, North Carolina next week. She expressed her desire to contribute to discussions on the global economy and international finance during the conference, as stated during a news conference following a cabinet meeting.

Bank of Japan Governor Kazuo Ueda is also anticipated to take part in the G20 finance leaders' assembly. Although the Bank of Japan has not officially confirmed Ueda's participation, U.S. Treasury Secretary Scott Bessent expressed his eagerness to meet Ueda in Asheville. Investors are closely monitoring the possibility of Katayama meeting Bessent outside the G20 proceedings, following their joint currency intervention last month aimed at supporting the struggling yen.

Despite the yen having fallen to near 164 per dollar, the lowest value in 40 years, it has since recovered slightly to around 155.41 per dollar on Friday. Katayama emphasized her administration's commitment to boosting investment and enhancing Japan's growth potential, which she believes will improve the yen's credibility and global competitiveness.