Japanese Prime Minister (PM) Shigeru Ishiba warned on Monday that “US tariffs have the potential to disrupt the world economic order.”
Meanwhile, the country’s Finance Minister Shunichi Kato said that “the US and Japan share the view that excessive FX volatility is undesirable.”
“FX rate to be determined by markets,” Kato noted further.
Japan’s Economy Minister Ryosei Akazawa stated that “the FX issues will be dealt with between Finance Minister Kato and US Treasury Secretary Scott Bessent.”
Market reaction
USD/JPY has come under intense selling pressure in the last hour, as the Japanese Yen (JPY) resumes its upward trajectory following these comments. At the press time, the pair is down 0.57% on the day at around 142.70.
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