U.S. and Japan Finance Chiefs Meet

The U.S. Treasury Secretary met with Japan's Finance Minister in Tokyo on Tuesday to discuss the weak yen and currency market coordination. The Japanese official told reporters after the meeting that the two countries have been working well together in addressing the weak yen.

"Regarding the recent foreign exchange trend, we agreed that Japan and the U.S. have been effectively coordinating," the minister said. She added that the sides confirmed they will maintain this cooperation and that full understanding had been reached.

The meeting took place at the Finance Ministry. The Japanese side stopped short of describing the discussions as coordinated intervention in currency markets or announcing any joint response.

Levingston, G10 Rates and FX Strategist at BofA Global Research, shared his outlook for the Japanese yen as the finance chiefs held talks on coordinated currency moves. Levingston said he expects yen depreciation to continue. The comments come amid ongoing concerns over the yen's weakness against the U.S. dollar.

The two governments have previously signaled alignment on monitoring exchange rates without committing to specific actions.

States have a history of consulting on currency matters, particularly when rapid movements risk economic stability. Tuesday's meeting focused on confirming that existing channels of communication remain effective. The Japanese minister emphasized that the discussions built on prior alignment rather than introducing new measures.

No details were released on any specific targets or thresholds for future intervention.