Japan, U.S. Eye Joint Statement to Curb Yen's Slide

Tokyo, Aug. 2 (Jiji Press)--The Japanese and U.S. governments are considering issuing a joint statement aimed at stemming the yen's depreciation against the dollar, informed sources said Sunday.

After Japanese and U.S. authorities are believed to have conducted a coordinated yen-buying intervention on Friday, Tokyo and Washington now aim to demonstrate their resolve to address the yen's historic drop, sources familiar with the matter said.

Specifically, Japanese Finance Minister Satsuki Katayama is expected to announce as early as Monday countermeasures in response to a series of reported foreign exchange market interventions.

The U.S. government is apparently moving in step with Japan out of concerns that the yen's weakening and falls in Japanese government bond prices would negatively affect long-term interest rates in the United States.

Referring to cooperation between the United States and Japan, U.S. Treasury Secretary Scott Bessent said in a post on X, formerly Twitter, on Friday, "We continue to enjoy a strong relationship and close coordination."

[Copyright The Jiji Press, Ltd.]