The yen strengthened against the US dollar; Japan's finance minister said Trump expressed concerns about the yen to Sanae Takaichi.

Japanese Finance Minister Satsuki Katayama said at a briefing after a cabinet meeting in Tokyo on Friday: "During the recent Japan-U.S. summit talks, Trump expressed concern about the weakening of the yen." Katayama told reporters that Sanae Takaichi responded that the yen's undervaluation is indeed a problem. She added that she will continue to maintain coordination with U.S. Treasury Secretary Scott Bessent. Katayama said: "U.S. Treasury Secretary Bessent and I will continue to maintain close communication on foreign exchange and many other issues." The remarks came after Japan returned from a five-day holiday, with the yen once again falling back near the closely watched 160 yen per dollar threshold. The yen has continued to weaken since both the Federal Reserve and the Bank of Japan raised interest rates last week. In addition, Katayama also said that yields are affected by multiple factors and that efforts are being made to take measures to address rising yields.