The yen reached a seven-month high as markets anticipated faster policy tightening by the Bank of Japan and possible fund repatriation by Japanese investors. U.S. Treasury Secretary Scott Bessent said on the 9th that he had "clear visibility" on yen intervention and information about what the Bank of Japan and Japanese policymakers would do. Japanese Finance Minister Satsuki Katayama said on the 8th that Japan and the United States remained aligned on currency markets and would maintain close communication to support orderly exchange-rate movements. She said their stance had not changed since coordinated intervention in late July and disclosed discussions with Bessent, including during recent G20 meetings. Bessent also said inflation expectations were "currently flat to declining."