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U.S. Bessent Plans to Visit Japan Before Trump's China Summit
(MENAFN) US Treasury Secretary Scott Bessent has signaled his intention to travel to Japan in mid-May, ahead of President Donald Trump's planned summit with Chinese President Xi Jinping, Japanese Finance Minister Satsuki Katayama announced Wednesday.
Katayama disclosed the development to reporters in Washington, DC following a bilateral meeting with Bessent, according to the Nipponnews website. The two officials also exchanged views on the ongoing conflict in Iran and the current trajectory of global foreign exchange markets.
The Japanese finance minister indicated Tokyo stands prepared to step into currency markets to counter the yen's prolonged weakness, warning that authorities "will take resolute measures if necessary." She further noted that both sides had committed to maintaining open and continuous lines of communication.
The currency intervention stance echoes language previously established by Katayama's predecessor, Katsunobu Kato, who alongside Bessent issued a joint statement in September asserting that market intervention "should be reserved for combatting excess volatility and disorderly movements in exchange rates" — a benchmark that Tokyo now appears to be weighing against current conditions.
Katayama disclosed the development to reporters in Washington, DC following a bilateral meeting with Bessent, according to the Nipponnews website. The two officials also exchanged views on the ongoing conflict in Iran and the current trajectory of global foreign exchange markets.
The Japanese finance minister indicated Tokyo stands prepared to step into currency markets to counter the yen's prolonged weakness, warning that authorities "will take resolute measures if necessary." She further noted that both sides had committed to maintaining open and continuous lines of communication.
The currency intervention stance echoes language previously established by Katayama's predecessor, Katsunobu Kato, who alongside Bessent issued a joint statement in September asserting that market intervention "should be reserved for combatting excess volatility and disorderly movements in exchange rates" — a benchmark that Tokyo now appears to be weighing against current conditions.
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