The Japanese Minister of Finance stated that they are currently coordinating foreign exchange policies with Bernett.

Japanese Finance Minister Koizumi Kozuki stated that her team is working on smooth cooperation with the US in the field of foreign exchange policy, following her meeting with US Treasury Secretary Benson in Tokyo. Koizumi stated that she will not comment on Benson's specific remarks. This is Benson's third visit to Japan since taking office. The market is closely watching this meeting because it comes less than two weeks after Tokyo authorities took what appeared to be a sustained and large-scale intervention to boost the yen exchange rate. Benson had previously indicated a critical stance towards direct market intervention, instead leaning towards tightening monetary policy through the Bank of Japan to support the yen. Japanese authorities may have intervened in the market for the first time on April 30, when the Bank of Japan's decision to maintain policy unchanged, combined with hawkish signals from the Federal Reserve, pushed the yen against the dollar beyond the 160 level. Data analysis shows that Japanese authorities may have used around $24.7 billion in funds in this operation, and then added around $30 billion in a subsequent round of intervention. Koizumi stated that she and Benson also discussed topics such as artificial intelligence and critical minerals.