Japan’s Katayama Affirms Continued FX Intervention Principles with U.S.
Japan's Finance Minister confirms FX intervention principles with U.S. remain in place amid yen weakness.
POLICY WIRE — Tokyo, Japan — Japanese Finance Minister Satsuki Katayama has reaffirmed that the guiding principles behind the July Japan-U.S. foreign exchange intervention are still in effect, signaling Tokyo’s openness to future joint action if market conditions warrant it.
The yen has remained under pressure against the dollar despite recent rate increases from the Bank of Japan. Katayama emphasized that the framework established during the July 31 operation—designed to address excessive volatility and disorderly movements—continues to be valid. She did not provide specific details on potential future actions but reiterated the government’s commitment to maintaining stable currency markets.
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At a press conference held on September 11, Katayama stated that Japan’s foreign exchange policy stance has not changed since the coordinated intervention in late July. She noted that Tokyo and Washington continue to align on their approach to currency markets, with close communication ongoing to ensure stability. The minister also referenced a shared understanding between the two nations that bold measures could be taken if necessary.
Reporting by Policy-Wire (PW)
