Japan says Trump voiced concern over weak yen in summit with PM Takaichi
EWJ•U.S. President Donald Trump voiced concern about yen weakness during a meeting with Japanese Prime Minister Sanae Takaichi, Japan’s Finance Minister Satsuki Katayama said. Takaichi told Trump an undervalued yen was problematic, and Katayama said she would keep close communications with U.S. Treasury Secretary Scott Bessent.
1. Leaders discuss yen weakness
Trump and Takaichi discussed foreign exchange during their meeting in New York on the sidelines of the U.N. General Assembly. Katayama said the exchange reaffirmed the countries’ shared stance behind their July 31 coordinated intervention, including a commitment to counter excessive volatility and disorderly yen moves.
2. Yen and bond yields
The yen briefly strengthened after Japanese authorities conducted rate checks on Friday, but the gains were short-lived. Japan’s benchmark 10-year government bond yield rose to a 30-year high of 3.115% that day; Katayama declined to say whether global government bond yield increases were discussed at the summit.
