Japanese Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent agreed on Wednesday to intensify communication on exchange rates, following talks in Washington on the sidelines of International Monetary Fund (IMF) and G7/G20 finance ministers' gatherings. Katayama warned that Japanese authorities stand ready to take "decisive" action against excessive yen moves, with the currency hovering near the 160-per-dollar level that has previously prompted intervention by Tokyo. A persistently weak yen raises import costs and fuels inflation in Japan, which is heavily dependent on energy imports — concerns compounded by elevated oil prices and strong demand for the safe-haven dollar amid ongoing Middle East conflict.