Japan and US Agree on Close Currency Coordination After Intervention

On May 11, Japanese Finance Minister Satsuki Katayama announced she held talks with US Treasury Secretary Scott Bessent, during which the two sides agreed to closely coordinate on currency market fluctuations.

The agreement came after Japan intervened to slow the yen's depreciation against the US dollar. According to the minister, the discussion focused on ensuring foreign exchange market stability and avoiding excessive volatility.

No details about the specific intervention measures have been disclosed, but the move signals Tokyo's readiness to act to protect its currency. Analysts say the US-Japan commitment to coordination is a significant signal that could ease pressure on the yen in the short term.