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Yen Rises Overnight to About 161.1 but Holds Near Multi-Year Lows After Routine Katayama–Bessent Call
The Japanese currency rose sharply between 11 p.m. and midnight Tokyo time on 22 June 2026 during a routine call between Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent. Katayama said the two sides agreed to act decisively if needed.
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The yen strengthened rapidly overnight from about ¥161.9 to the dollar to about ¥161.1 between 11 p.m. and midnight Tokyo time on 22 June 2026. The move coincided with a video conference between Finance Minister Satsuki Katayama and U.S.
Treasury Secretary Scott Bessent. Katayama said the two officials hold a firm mutual agreement to act decisively whenever necessary and that the commitment remains unwavering. She added that the Monday call was a routine follow-up to Bessent’s attendance at the Group of Seven summit in France the previous week and was not called to address an emergency.
On 23 June the yen traded in the ¥161.50–¥161.60 range through early afternoon in Tokyo. It had briefly reached ¥161.93 the night before. The currency has stayed above ¥160 for one week and above ¥161 for about three trading days.
Katayama issued verbal warnings about the yen’s level over the preceding seven days. Japan last intervened with a $73 billion package to support the currency in April 2026. The Bank of Japan raised its policy rate to 1 percent in the week before 23 June.
The yen last traded at ¥161.95 in July 2024. A sustained break of that level would mark its weakest rate against the dollar since December 1986.
