Bessent expresses worries over yen's 'one-sided depreciation,' according to Katayama.

Japan's Finance Minister Katayama and the U.S. Treasury Secretary worry about the yen's depreciation, prompting potential intervention.

So, Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent are in sync, both worried about the yen’s "one-sided depreciation." Japan’s feeling the heat, talking big about intervening to stop the slide after the yen hit a dizzying ¥158 to the dollar, a level it hasn't seen in a year.

Why’s this happening? Rumors are swirling that Prime Minister Sanae Takaichi might call a snap election in February, which sent the yen tumbling as folks speculate that a win for her would back her expansionary spending plans. But here’s the kicker: the weak yen is a pain for everyone. It jacks up import costs, squeezes households, and could even take a hit on Takaichi’s popularity. Talk about a political tightrope!

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