Japan Finance Minister Satsuki Katayama: Japan Ready to Act to Stabilize Foreign Exchange Markets

According to Jin10, Japan's Finance Minister Satsuki Katayama said Japanese authorities were ready to respond to disorderly moves in foreign exchange markets and would act in line with existing agreements between Japan and the United States. Katayama said Japan would act in response to disorderly fluctuations or excessive speculative moves, adding that it had been coordinating and consulting with the United States frequently and expected the two sides to continue responding this way. The United States will hold midterm elections on Tuesday, with the results determining control of both chambers of Congress. Polls and prediction markets indicate that Democrats could regain control of the House, while control of the Senate remains uncertain. If Democrats take control of both chambers, they could constrain U.S. President Donald Trump's fiscal policy agenda, potentially lowering Treasury yields and the dollar while supporting the yen.