Yen Falls Further Even as Katayama, Bessent Share Concerns

The yen dropped to its weakest level in 18 months despite Japan’s finance minister and her US counterpart uniting in their concern over the currency’s slide.

Japan’s currency fell as much as 0.6% to 159.05 per dollar, with losses accelerating after local media outlet Kyodo reported that Prime Minister Sanae Takaichi told a senior member of the ruling Liberal Democratic Party that she intends to call a snap election. The development is seen as reviving the so-called “Takaichi trade,” which has weighed on government bonds and kept the yen under pressure.