The yen fell below the 153 mark in spite of attempts by the new Liberal Democratic party president, Hayao Takaichi, to reassure markets. Expectations of government intervention are rising in the face of tough comments from finance minister Katsunobu Kato. Click to view...
Japanese Finance Minister Katsunobu Kato said he will closely monitor the situation in the bond market, including the ultra-long bond sector.
Japanese Finance Minister Katsunobu Kato: There has been no discussion with the United States about the goals and framework for controlling foreign exchange movements. Discussed with the United States whether there is a need for constructive discussions on foreign exchange issues.
Japanese Finance Minister Katsunobu Kato: Japan's huge holdings of U.S. Treasury bonds can be one of the tools used in trade negotiations.
Katsunobu Kato, Japan's finance minister, has reached an agreement with US Treasury Secretary Vincent Bescent that the exchange rate should be determined by the market and that excessive volatility will have an adverse impact on the economy. US Treasury Secretary Vincent Bescent has reached an agreement with Japan to communicate closely on foreign exchange matters. Japan regrets informing US Treasury Secretary Bescent of the tariffs.
Japanese Finance Minister Katsunobu Kato: A meeting is being arranged with US Treasury Secretary Vincent Bessant to discuss foreign exchange matters.
Japanese Finance Minister Katsunobu Kato: Volatility in the foreign exchange market remains high.