U.S. and Japan Strengthen Ties Amid Currency Volatility

U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama confirmed strong coordination to combat excessive currency volatility following recent yen-buying interventions. Their meeting affirmed ongoing collaboration in line with the joint U.S.-Japan agreement on foreign exchange intervention, despite market concerns over the yen's weakness.

U.S. Treasury Secretary Scott Bessent met with Japanese Finance Minister Satsuki Katayama in Tokyo to address concerns about excessive currency volatility, particularly the recent yen-buying interventions by Japan.

Their discussions emphasized robust coordination in handling exchange rates, aligning with a joint statement signed last September permitting foreign exchange intervention.

Despite the yen's continued weakness, Bessent's visit underscored the continued economic partnership between the U.S. and Japan, with further discussions anticipated on potential countermeasures to support the sagging currency.