Japan finance minister to attend G20 meeting as yen trades near 160 per dollar

Japanese Finance Minister Satsuki Katayama said she will attend next week’s G20 (Group of 20 major economies) finance leaders’ meeting in Asheville, North Carolina, where markets are watching for a possible meeting with U.S. Treasury Secretary Scott Bessent. Their governments coordinated currency intervention (official action to influence exchange rates) last month to support the yen. The currency has recovered from a 40-year low near 164 per dollar but has weakened toward 160, standing at 155.41 on Friday after briefly rising to 155.20 following the intervention announcement. Bank of Japan Governor Kazuo Ueda is also expected to attend, although the BOJ has not confirmed his participation. Katayama said the joint-intervention statement remains strong and that government efforts to raise investment and Japan’s growth potential should strengthen the yen’s credibility and global competitiveness.

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