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Japan's Finance Chief Signals Readiness for Currency Intervention as G7 Backs Approach

Japan's Finance Minister Satsuki Katayama reaffirmed her willingness to intervene in foreign exchange markets to support the yen whenever necessary, with backing from Group of Seven peers. Katayama's commitment comes as currency volatility remains a concern for Tokyo policymakers. U.S. Treasury Secretary Scott Bessent aligned with Japan's position, stating that excessive foreign exchange swings are counterproductive to economic stability. The remarks underscored tacit American support for Japan's recent market actions. Katayama also addressed bond market conditions, noting that recent yield increases on Japanese government debt reflect broader global trends rather than domestic pressures. The finance minister indicated the government does not currently need supplementary budget measures, though she pledged to monitor market conditions closely as geopolitical tensions in the Middle East continue affecting the economic outlook.