Finance Minister Satsuki Katayama said she and U.S. Treasury Secretary Scott Bessent shared concerns over what she called the yen¡¯s recent ¡°one-sided depreciation,¡± as Tokyo stepped up threats of intervention to stem the currency¡¯s fall.
Katayama¡¯s comments reflect Japan¡¯s rising unease over a slide in the yen, which crossed the key ?158-to-the-dollar mark for ?the first time in about a year following reports that Prime Minister Sanae Takaichi ?may call a February snap election.
The reports pushed down the yen as they stoked speculation that an election win would help Takaichi secure a mandate for her expansionary fiscal policy. But the weak yen has been a headache for policymakers as it inflates import costs, weighs on households and possibly affects Takaichi¡¯s popularity ratings.
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