Japan and the US maintain a coordinated approach to the currency market
In Japan, Finance Minister Satsuki Katayama said that Tokyo and Washington maintain a coordinated approach to the currency market and will continue close communication to ensure orderly exchange-rate movements. Channel NewsAsia reports, citing Reuters.
Position after the intervention
According to Katayama, Tokyo's position has not changed since the coordinated Japanese-US intervention at the end of July aimed at supporting the yen. The minister said that Japanese authorities remain vigilant despite the currency's recent significant strengthening.
More current news is available on the UA.News Telegram channel Telegram.
Katayama also said that Japan would maintain close contact with the US Treasury Department to ensure orderly conditions in the currency market. She added that she had discussed the matter with US Treasury Secretary Scott Bessent during recent Group of Twenty meetings and on other occasions.
Yen strengthening
The yen rose to its highest level in seven months. Market participants revised their outlook for the currency, which had previously been under pressure, amid expectations of faster monetary-policy tightening by the Bank of Japan. Bets also increased that Japanese investors could repatriate funds to the country.
