Japan and the United States have agreed to maintain coordination on the yen following a rare joint currency intervention last month, Japan’s finance minister said on Monday.
Satsuki Katayama told reporters in Tokyo that the two sides had reaffirmed their commitment to exchange-rate stability after a two-day meeting of Group of 20 finance leaders in Asheville, North Carolina, concluded on Tuesday. The yen stood around 159.80 per dollar in Asian trading on Tuesday, having briefly fallen below 160 per dollar earlier in the week following remarks by Federal Reserve Chair Kevin Warsh.
Katayama said the coordination between Japan and the U.S. remained unchanged, reiterating that both countries were prepared to act if markets showed disorderly movements. She emphasized that an orderly yen exchange rate was critical for global financial stability, including in the United States, and that continued joint efforts by Tokyo and Washington contributed to that shared objective.
U.S. Treasury Secretary Scott Bessent told Reuters on Sunday that recent yen movements had been "fairly well contained," though he did not elaborate on policy steps. The yen had previously touched a 40-year low of nearly 164 per dollar ahead of the coordinated intervention a month ago.
The G20 meeting in Asheville concluded without new policy announcements, but participants discussed broader macroeconomic risks and currency stability amid divergent monetary policies between major economies. Katayama’s remarks follow a photo dated August 3 showing her addressing the press in Tokyo, while Reuters reported from both Asheville and Tokyo during the event.
