New York, Sept. 25 (Jiji Press)–The dollar briefly tumbled below 157 yen in New York on Friday morning, pushed down by concerns over the possibility of Japan and the United States conducting a joint yen-buying intervention again. At 9:40 a.m., the greenback stood at 157.00-10 yen, down 1.82 yen from 5 p.m. Thursday. Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent held an online meeting Friday. Katayama told reporters after the meeting that the two exchanged views on financial market developments, adding that they “reconfirmed that the undervaluation of the yen is problematic.” Following the remarks, the dollar briefly slipped to around 156.98 yen as concerns grew that Japanese and U.S. authorities may step in the foreign exchange market to buy yen in concerted action again following their coordinated intervention in late July, market sources said. END [Copyright The Jiji Press, Ltd.]
