Yen Strengthens to 157.95 per Dollar on US-Japan Currency Intervention Concerns

The Japanese yen recorded its strongest daily gain in over two weeks, rising as much as 0.6% to reach 157.95 per US dollar. The advance followed comments from Japan's Finance Minister Satsuki Katayama, who revealed that US President Donald Trump raised weak yen concerns with Prime Minister Sanae Takaichi during bilateral talks in New York. Katayama emphasized that currency intervention remains an option and noted close coordination with US Treasury Secretary Scott Bessent. The development follows the Bank of Japan lifting its policy rate to 1.25%, pushing 10-year Japanese Government Bond yields to a 30-year high of 3.1%.