Japan says Trump voiced concern over weak yen at summit with Takaichi
EWJ•U.S. President Donald Trump voiced concern about the yen’s weakness at a summit with Japanese Prime Minister Sanae Takaichi, Japan’s Finance Minister Satsuki Katayama said. Katayama said the leaders reaffirmed their stance against excessive currency volatility after a July 31 coordinated intervention.
1. Leaders discuss yen weakness
Katayama said Trump raised concern about the yen’s weakness during his Tuesday meeting with Takaichi in New York. She said Takaichi told him that, as a general principle, an undervalued yen is problematic, and that the leaders reaffirmed their shared stance against excessive volatility and disorderly moves.
2. Yen and bond yields
Katayama said she would continue close communications with U.S. Treasury Secretary Scott Bessent, including on foreign exchange. The yen strengthened slightly after her remarks, moving from 158.60 per dollar to around 158. Japan’s 10-year government bond yield reached a 30-year high of 3.115% on Friday.
