The Japanese yen is consolidating. Traders are waiting for a meeting with Beresford.

The yen was flat against other G10 and Asian currencies in the previous market day. US Treasury Secretary Besen is scheduled to meet with Japanese Prime Minister Haya Suzu and Finance Minister Katsuyuki Koyama in Tokyo today. Analysts from Nomura's foreign exchange research team commented, "The market is closely watching the US's position." Nomura's analysts added, "The US's tolerant stance on intervention and Japan's tightening monetary policy may help make efforts to strengthen the yen more effective and sustainable." Data shows that the US dollar was essentially unchanged at 157.22 yen, the euro was flat at 185.20 yen, and the Australian dollar rose 0.2% to 113.90 yen.