Japan-US Finance Chiefs Agree to Intensify Forex Talks

Japan's Finance Minister Satsuki Katayama met with U.S. Treasury Secretary Scott Bessent in Washington on Wednesday, agreeing to intensify communication on foreign exchange issues amid ongoing volatility in the Japanese yen. The discussions, held during international gatherings including meetings of the International Monetary Fund, Group of Seven and Group of Twenty finance leaders, focused on recent currency market movements and their broader economic impacts.

Katayama, who is overseeing Japan's fiscal and currency policies, emphasized the need for closer bilateral ties given the current market conditions. "We have agreed to intensify communication more than before," she said in remarks reported after the meeting. Both officials acknowledged the influence of global factors, including sharp swings in oil prices driven by Middle East tensions, on exchange rates. These fluctuations have exacerbated pressure on the yen, which has weakened significantly against the dollar in recent months, trading near the 158-160 level per dollar at the time of the talks.

The yen's depreciation stems from divergent monetary policies between the two nations. The U.S. Federal Reserve has adopted a...