Japan will maintain close communication with the US Treasury to help ensure orderly foreign exchange markets, Finance Minister Satsuki Katayama said on Friday.
Katayama said Japan’s policy stance had not changed since Tokyo and Washington conducted a coordinated intervention and issued a joint statement on currency markets.
“We will continue to maintain close communication with the U.S. Treasury and work to ensure orderly foreign exchange markets,” she told a regular press conference.
The comments follow a joint yen-buying operation carried out by Japan’s Ministry of Finance in coordination with the US Department of the Treasury on July 31, according to a statement from Japan’s finance ministry.
That action was intended to counter what the ministry described as excessive volatility and disorderly movements in the yen. Japan has said it remains prepared to consider further joint intervention if necessary.
Asked about recent warnings from US Treasury Secretary Scott Bessent to investors betting against the yen, Katayama described his remarks as “a pretty direct expression of his market views”, adding that they were consistent with his background in the hedge fund industry.
