Japanese Finance Minister Katayama says they will take the appropriate action to deal with excessive FX moves, nothing is excluded.

• Had FX talks with US Treasury Secretary Bessent.

Japanese Finance Minister Katayama's comments signal a readiness to intervene in the foreign exchange market, which reflects growing concern about excessive JPY volatility. The dialogue with the US Treasury Secretary could indicate a collaborative approach to managing currency fluctuations, impacting investors' expectations for JPY stability and influencing cross-asset sentiment, particularly in commodities and metals.