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Exclusive-Japan to announce Tokyo, Washington took joint action on yen, sources say
['August', 'Min Read']
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TOKYO, Aug 2 (Reuters) - Japanese Finance Minister Satsuki Katayama will announce on Monday that Tokyo and Washington took joint action in the currency market to arrest the yen's slide to 40-year lows, two Japanese government officials told Reuters.
One source, asked if Katayama would announce "joint action", said yes, adding, "The operation is still ongoing."
Japan's government conducted yen-buying, dollar-selling intervention in New York hours on Thursday, a market source told Reuters.
Treasury Secretary Scott Bessent, who said last week the yen "seems very undervalued to me", had a notepad at a Friday cabinet meeting with the words "To Do", followed by "Buy Japanese Yen (JPY) $5-10 bil", a Reuters photo showed.
Also on Friday, the Treasury informed a number of banks that it might intervene in the yen market and that they should "stand ready for future action," a source familiar with the matter told Reuters.