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The G20 has reiterated its pledge to keep exchange rates aligned with economic fundamentals, a move intended to calm global financial markets. The statement follows a meeting of finance ministers and central bank governors and underscores the group's commitment to avoiding competitive devaluations and enhancing policy coordination.
Japan's Finance Minister Satsuki Katayama met with US Treasury Secretary Scott Bessent on Monday as the yen remains under prolonged depreciation pressure. The high-level talks, though details undisclosed, come amid growing concerns over the yen's slide to multi-decade lows driven by interest rate differentials. Analysts see the meeting as a potential step toward coordinated policy efforts to stabilize currency markets.
Japan's Finance Minister confirmed that Japan and the US have conducted a coordinated yen-buying operation to support the currency amid rising exchange rate pressures. This rare joint intervention marks a significant step between the two governments to stabilize the foreign exchange market.
President Donald Trump said the US would gain economically from Japan's intervention to buy yen, as the currency saw sharp swings. Analysts note such moves could help US exports by weakening the dollar against the yen.
