Japan, US remain aligned on FX policy to foster stable markets, Katayama says
Tokyo remains vigilant even as the yen staged a sharp rally recently
Japanese Finance Minister Satsuki Katayama emphasized on September 8th that Tokyo and Washington maintain a unified stance on currency markets, vowing to collaborate closely to ensure stable foreign exchange movements. She affirmed that Japan's policy stance has remained unchanged since the coordinated intervention with the U.S. aimed at bolstering the yen in late July.
Katayama highlighted ongoing communication with the U.S. Treasury to ensure market stability, mentioning her discussions with Treasury Secretary Scott Bessent during recent G20 meetings and other gatherings. The yen experienced a surge to a seven-month peak, as traders considered the currency's future prospects, fueled by anticipations of more aggressive Bank of Japan policy tightening and the potential for Japanese investors to repatriate funds.
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