Under dual pressures from tariffs and the currency market, Japanese Finance Minister Shōzō Katayama reiterates close cooperation with the U.S. side

Japanese Finance Minister Shunichi Katayama stated at a routine press conference that the Japanese government is maintaining “close dialogue” with the United States regarding foreign exchange market fluctuations, emphasizing that communication has deepened over the past four months. This statement has once again heightened market concerns about potential currency intervention. Katayama said, “Over the past four months, I have maintained close communication with U.S. officials, and during this period, our relationship has become closer.” She did not comment on reports by Japanese media about the “U.S. Treasury Department leading a currency review last month.” This review is widely seen as a technical step before potential currency intervention. According to minutes from the Federal Reserve’s January meeting, representatives from the New York Fed conducted related reviews on behalf of the U.S. Treasury. Although she did not directly acknowledge any intervention intentions, Katayama stated, “Since both sides have responsibilities to fulfill, I believe we can now say that we have thoroughly prepared ourselves.” Market interpretation suggests that Japan and the U.S. have completed necessary policy coordination preparations, and if the yen continues to depreciate uncontrollably, the likelihood of joint action increases. (Xinhua Finance)