Japan's Katayama: Conducted coordinated yen-purchasing intervention with US

Japan's Finance Minister Satsuki Katayama said on Monday that Japanese authorities conducted coordinated Yen-buying intervention with the United States (US) on Friday, adding that officials will not hesitate to carry out more foreign exchange (FX) intervention with Washington, Bloomberg reported. 

Meanwhile, US Treasury Secretary Scott Bessent stated that Friday’s coordinated FX moves curbed disorderly Japanese Yen (JPY) swings. Bessent said that treasury will stay vigilant and maintain close communication with counterparts at the Ministry of Finance (MoF) and the Bank of Japan (BoJ).

Key quotes from Japan's Katayama

Conducted coordinated yen-buying intervention with U.S. on Friday. 

Won't hesitate to carry out more forex intervention with U.S.

Intervention aimed at tackling recent excessive, disorderly yen moves. 

Japan plans to use Federal Reserve’s foreign and international repo facility in future. 

Japan remains vigilant and in close contact with U.S. Treasury counterparts. 

No comment on forex intervention except Friday. 

Market reaction

The Japanese Yen (JPY) attracts some buyers following the headlines. At the time of writing, the USD/JPY is down 0.62% on the day at 156.35.