Japan Finance Minister Keeps High Alert on FX, Denies U.S. Pressure on Policy

Japan Finance Minister Satsuki Katayama said the government has maintained the same sense of urgency toward the foreign exchange market since Japan and the United States coordinated FX action. According to Sina Finance, she also said stability in financial markets, including the dollar-yen rate, matters not only for Japan but also for global economic stability. Katayama made the remarks after meeting with Prime Minister Sanae Takaichi, and said she briefed her on a recent international conference in North Carolina. According to Sina Finance, Katayama said Japan's basic stance on the foreign exchange market remains aligned with Takaichi's policy thinking, and that vigilance over unusual yen moves has not eased materially after earlier action. Katayama also denied that U.S. Treasury Secretary Scott Bessent had asked Japan to raise interest rates. According to Sina Finance, she said Bessent did not make any policy requests during his visit to Tokyo in May, and that he never told her Japan must do anything or must stop doing anything.