Charu Chanana, Chief Investment Strategist at Saxo Markets, believes that recent comments on the yen by Japanese Finance Minister Satsuki Katayama are "largely just another round of verbal intervention."

"Unless there is subsequent substantive policy coordination, actual intervention, or a clearer tightening path signaled by the Bank of Japan, I do not think this will fundamentally change the underlying fundamentals of the yen," she said.

Japanese Finance Minister Satsuki Katayama said at a press briefing following a cabinet meeting in Tokyo on Friday: "During the recent Japan-U.S. summit talks, Trump expressed concern about the weakening of the yen."

Katayama told reporters that Sanae Takaichi responded that the yen being undervalued is indeed a problem. She added that she will continue to maintain coordination with U.S. Treasury Secretary Scott Bessent.