Japan, US remain aligned on FX policy to foster stable markets, Katayama says

[TOKYO] Japanese Finance Minister Satsuki Katayama said on Tuesday (Sep 8) that Tokyo and Washington remain aligned in their approach to currency markets and will continue close communication to ensure orderly foreign exchange movements.

“Our policy stance has not changed at all since the Japan-US coordinated intervention (to prop up the yen in late July),” Katayama said at a regular news conference, signaling that Tokyo remains vigilant even as the yen has mounted a sharp rally recently.

“Japan will continue to maintain close communication with the US Treasury to ensure orderly market moves,” the finance minister said, adding that she held talks with Treasury Secretary Scott Bessent during recent Group of 20 meetings and other occasions.

The yen surged to a seven-month high as traders reassessed the battered currency’s outlook, driven by expectations of faster Bank of Japan policy tightening and growing bets that Japanese investors could repatriate funds. REUTERS