Japan and U.S. Finance Ministers Address Yen Weakness, Eye Stronger Currency
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
- Japan/US officials discuss yen weakness, eye stronger yen.
- Katayama, Bessent reaffirm cooperation post-August intervention.
- USD/JPY near 157; Japan offers no specific intervention level.
Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent held a conference call on September 25, 2026, where they discussed the yen’s undervaluation and broader financial market developments. Both ministers reaffirmed their shared concern regarding the yen’s weakness, a sentiment previously echoed by Prime Minister Takaichi. Secretary Bessent specifically noted the “desirability” of a stronger yen, while Minister Katayama reiterated that an undervalued yen generally poses problems. She confirmed ongoing close communication with the U.S. Treasury to ensure orderly forex markets and clarified that the Takaichi administration is not reflationary. The officials concluded by reaffirming their commitment to strengthening Japan-U.S. cooperation.
Japan’s Finance Minister Satsuki Katayama reiterated concerns over the yen’s weakness, stating that an undervalued yen is problematic. She affirmed Japan’s commitment to close contact and cooperation with the U.S. Treasury, agreeing with Bessent on the need for collaboration to maintain an orderly currency market. Katayama’s remarks follow August’s joint intervention and come as USD/JPY trades around 157. She also denied that the government is pursuing reflationary policies and emphasized the importance of market-set rates. However, she did not specify any particular intervention level or action, which analysts suggest may lead traders to continue testing officials’ resolve.