Yen Rebounds on Verbal Intervention, US-Japan Security Pact
Update: 2025-10-28
Description
**Summary:**The Japanese yen experienced a significant rebound on October 28th, ending a week-long losing streak, following supportive comments from government officials. The yen's weakness had been a concern, dropping around three percent against the US dollar. However, after Japan's Minister for Growth Strategy, Minoru Kiuchi, and US President Donald Trump and Japanese Prime Minister Sanae Takaichi, emphasized the importance of monitoring the yen's impact on the economy and strengthening security ties, the currency gained about 0.7 percent against the dollar. This turnaround was also influenced by US Treasury Secretary Scott Bessent's comments on the need for sound monetary policy. Despite no expected rate changes from the Bank of Japan, inflation and a weak yen are putting pressure on the bank to act. Meanwhile, the Federal Reserve's upcoming meeting and Amazon's job cuts are drawing investors' attention in the unpredictable market.
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