#Satsukikatayama

Group of Seven finance chiefs are set to discuss the selloff in government bonds that’s sending yields on some benchmark securities to their highest levels in decades, with at least one member viewing the move as temporary.

The finance minister said that a recent rise in yields on Japanese government bonds is part of a broader global trend.

The finance minister has stopped short of saying that the two countries are engaged in coordinated intervention in the currency market or that they are planning a joint response.

The comments came after the yen surged last Thursday following reported intervention by the authorities, and also saw a number of intraday rallies during days that followed.

The whipsaw trading came after Japan likely spent around ¥5.4 trillion ($34.5 billion) last week to support the yen.

'As finance minister, at this stage I'm not in a position to comment,' Katayama told reporters in Samarkand, Uzbekistan.

Japanese Finance Minister Satsuki Katayama declined to comment if authorities intervened to support the yen last week, after reports said they had entered the market for the first time since 2024.

Until the government stepped in, the currency had been trading close to its cheapest levels in four decades.

The Japanese currency is at its weakest since July 2024 and at levels that could trigger intervention.