Tokyo and Washington coordinate on foreign exchange measures as yen weakness drives Japanese firms toward Bitcoin

Japanese Finance Minister Satsuki Katayama is set to announce that Tokyo and Washington are actively coordinating on measures designed to slow the yen’s decline. The currency has been trading around 160-162 per dollar, a level not seen in roughly 40 years. The intervention playbook Katayama has been escalating her rhetoric in stages. Back on April 24, 2026, she warned of “decisive action” if the yen continued trading near 160 per dollar. By June 22, she announced authorities would act as the currency weakened past 161. The coordination isn’t just talk. Katayama met with US Treasury Secretary Scott Bessent on May 12, 2026, specifically to discuss currency coordination following yen intervention measures. Japan has spent approximately $63.5 billion on past yen interventions, a figure that underscores how seriously Tokyo takes currency stability. Japanese officials maintain 24/7 contact with their US counterparts on currency matters. The September 2025 US-Japan accord on foreign exchange set the foundation for this level of cooperation. Katayama has stated that authorities are prepared to take “appropriate measures at any time” should the yen continue to weaken. Japanese corporations ...