Japan, US remain aligned on FX policy to foster stable markets, Katayama says

TOKYO, Sept 8 - Japanese Finance Minister Satsuki Katayama stated on Tuesday that Japan and the United States maintain a unified stance on foreign exchange policy, aiming to foster market stability through ongoing dialogue. The minister emphasized that Japan's policy outlook has remained unchanged since the coordinated intervention with the U.S. to support the yen last month.

Despite the yen's significant rally recently, Katayama expressed vigilance, highlighting the importance of sustained communication with the U.S. Treasury to ensure orderly market movements. She reiterated that she had discussions with Treasury Secretary Scott Bessent during recent Group of 20 meetings and other events. The yen reached a seven-month high as market participants reassessed its future prospects, influenced by forecasts of intensified Bank of Japan tightening and speculative moves by Japanese investors to repatriate funds.