Japan finance minister confirms continued coordination with U.S. on forex

Japan’s finance minister has confirmed that Tokyo and Washington are continuing to coordinate closely on foreign exchange as traders watch the yen for signs of intervention.

Finance Minister Satsuki Katayama said the discussion with U.S. Treasury Secretary Scott Bessent in Tokyo covered financial market movements, including foreign exchange, and that the two sides will keep monitoring conditions closely.

What officials said

The Japanese and U.S. sides have repeatedly said exchange rates should be determined by markets, but that intervention remains an option if currency moves become excessive.

Official Japanese and U.S. Treasury readouts from the earlier April 15-16 meeting in Washington also said the two governments discussed foreign exchange and would keep close communication on macroeconomic and financial market issues.

Why it matters

The yen has been under heavy market scrutiny in recent weeks, and traders have been alert for any sign that Japanese authorities could step in to curb volatility.

Reuters reporting in April and May said Japan and the U.S. had agreed to intensify FX communication and that Japanese officials remained in daily contact with U.S. authorities.

What happens next

The new confirmation does not mean intervention is imminent, but it does reinforce that the two governments are still working together on currency monitoring.

For now, the key message from Tokyo is continuity: keep the line open, watch the market closely and retain the option to act if needed.