- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,609+0.13%
- October 17, 202612°
- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,609+0.13%
- October 17, 202612°
Trump’s concern over a weak yen dominates US-Japan talks
Japanese Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent held an online meeting Friday and agreed that the yen’s low value was creating a problem. With the yen trading at around 158 to the dollar in Tokyo markets the same day, the two sides agreed to monitor market developments and maintain communication.
Concern from US President Donald Trump over the yen’s weakness was raised during Friday’s online meeting between Japanese Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent. The two ministers agreed that the yen’s low value was creating a problem.
Katayama said Japanese Prime Minister Sanae Takaichi had raised the concern during her meeting with Trump on Tuesday. Katayama also said Takaichi had stated that the yen’s general undervaluation was creating a problem.
Washington calls for a stronger yen
Bessent called on the Japanese government to strengthen the yen. The meeting addressed the possibility that a weak yen could drive up inflation in Japan and that rising yields on Japanese government bonds could push up yields on US Treasury bonds.
Katayama said she expected excessive yen selling to ease. Japan’s finance minister said there may have been some misunderstandings in the markets and that the current trend could reverse.
Bessent said the meeting had been productive and followed on from the meeting between Trump and Takaichi. Saying that a strong yen reflecting Japan’s strong economic fundamentals was desirable, Bessent emphasized the importance of close communication on foreign exchange markets.
Yen reaches around 158 to the dollar
The yen traded at around 158 to the dollar in Tokyo markets on Friday. Japan and the United States are military allies under a bilateral security arrangement that has been in force since the end of World War II.
About 50,000 US troops are stationed in Japan.
Stay Updated with Ally Daily
Subscribe to be informed about special news, developments and announcements. We will keep you informed.
By signing up, you agree to our Privacy Policy
