US Exchange Rate Coordination Principles Remain in Effect — BigGo Finance

Add preferred source Japan's Finance Minister Satsuki Katayama said on September 25 that Trump and US officials have recently expressed concern over yen weakness, and that Japan will continue to maintain close coordination with the US on exchange rate matters. She stressed that the principles established following the previous Japan-US coordinated intervention in currency markets "remain in effect," but declined to comment on specific exchange rate levels. She also noted that specific monetary policy tools are decided by the Bank of Japan, and expressed hope that the central bank will maintain communication with the government. Following her remarks, the yen strengthened sharply in the short term, with USD/JPY falling to 158.37. The Bank of Japan raised rates to 1.25% in September, but the yen weakened afterward, and on the 18th the BOJ conducted a "rate check" seen as a preparatory step for potential intervention.