Japanese Finance Minister Katsunobu Kato confirmed consensus with Berson on exchange rate discussions.

Japanese Finance Minister Kozue Kadayama stated that she had a telephone conversation with U.S. Treasury Secretary Scott Bensett. This communication briefly boosted the yen, which is still hovering near a near forty-year low. Kozue Kadayama told reporters on Tuesday that Japan and the United States had already reached a solid consensus and agreed to take strong measures when necessary referring to foreign exchange intervention. She said, "This consensus has not changed at all." She mentioned that the cooperation and positions of the two countries have further deepened, but did not make further comments on the current foreign exchange rate levels. The call took place on Monday evening Japan time and was a follow-up to the Group of Seven meeting held in France last week. The call lasted nearly an hour and discussed not only the exchange rate issue but also the current state of global financial markets, the situation in Iran, and the latest developments in the Strait of Hormuz. The news of the call, which was leaked by local media earlier, has led yen traders to be on high alert, predicting that the Japanese authorities will soon intervene in the market. During the call, the yen briefly fell to 161.93 yen against the U.S. dollar, near a forty-year low; as of Tuesday morning, the yen exchange rate had risen to around 161.58 yen against the U.S. dollar.