U.S. and Japan agree weak yen is a concern

U.S. Treasury Secretary Scott Bessent and Japan Finance Minister Satsuki Katayama agreed in a Sept. 25 call that yen undervaluation is a concern, Japan's ministry readout says. Bessent said they discussed a strong yen reflecting fundamentals. The dollar was at 159.75 yen on Aug. 31, Reuters reported, near 160 where intervention risk rises. I read this as cover for action.