Japan’s finance minister meets with US Treasury Secretary
Japan’s finance minister held an online meeting with the US Treasury Secretary to discuss the yen’s sharp decline.
The meeting covered policy responses to the historically weak yen, including the possibility of currency intervention.
The yen briefly touched around 161.9, just short of a two-year low, with a move above 161.96 potentially triggering intervention.
The discussion may impact commodity markets with yen exposure, including oil priced in USD for Japanese buyers, affecting demand-side sentiment in Asia’s second-largest economy.