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🇸🇬 Singapore /Economy & Trade

Japan and US remain aligned on currency policy to support stable markets, Katayama says

From CNA · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency Ongoing story
  • Japanese Finance Minister Satsuki Katayama said Tokyo and Washington will maintain close communication on currency markets to promote orderly movements.
  • Katayama said Japan’s policy stance has not changed since the coordinated intervention to support the yen in late July.
  • The yen recently reached a seven-month high as traders anticipated faster Bank of Japan tightening and possible repatriation of Japanese funds.

Japan and the United States remain aligned on currency policy, Japanese Finance Minister Satsuki Katayama said Tuesday, as the yen stages a sharp rally.

“Our policy stance has not changed at all since the Japan-U.S. coordinated intervention (to prop up the yen in late July),” Katayama told a regular news conference. Her comments signaled that Tokyo remains vigilant despite the yen’s recent gains.

Our policy stance has not changed at all since the Japan-U.S. coordinated intervention (to prop up the yen in late July).

· Satsuki KatayamaJapan’s finance minister said Tokyo’s currency-policy position remains unchanged after the late-July intervention.

“Japan will continue to maintain close communication with the U.S. Treasury to ensure orderly market moves,” she said. Katayama added that she had spoken with Treasury Secretary Scott Bessent during recent Group of 20 meetings and on other occasions.

The yen rose to a seven-month high as traders reassessed the outlook for the battered currency. The move was driven by expectations that the Bank of Japan could tighten policy more quickly and by growing bets that Japanese investors may bring funds back home.

Japan will continue to maintain close communication with the U.S. Treasury to ensure orderly market moves.

· Satsuki KatayamaShe described ongoing coordination with Washington on foreign-exchange markets.
About this summary

Originally published by CNA in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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