Japan’s finance minister confirms ongoing coordination with the US on currency movements amid discussions on mineral supply chains.
Japan and the United States have reaffirmed their close cooperation on currency movements following a meeting between Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent. The discussions reinforced a joint statement from last year and included talks on global mineral supply chains, though specifics on monetary policy tools were avoided.
The meeting highlighted intensified coordination between the two nations, with Katayama emphasizing alignment on critical mineral supply chains. However, no details were disclosed regarding potential Bank of Japan (BoJ) rate hikes or fiscal policy adjustments. Katayama also declined to comment on the possibility of a June rate hike.
The USD/JPY pair rose 0.22% to 157.50 following the announcement, reflecting market reactions to the renewed cooperation. The BoJ’s mandate remains focused on price stability, with an inflation target of around 2% amid its ultra-loose monetary policy since 2013.