President Donald Trump is scheduled to meet with Japanese Prime Minister Takaichi Sanae next week on the sidelines of the United Nations General Assembly in New York. This will be their first face-to-face discussion following a coordinated U.S. effort to help stabilize the yen's value.

The meeting arrangement was disclosed by U.S. Ambassador to the United Nations Mike Walz during a press call with reporters on Friday. The yen had previously weakened to 164 per dollar, marking its lowest level in nearly four decades.

In late July, Washington and Tokyo intervened jointly to support the currency, marking the first coordinated yen-buying operation by the two allies since 1998. U.S. Treasury Secretary Scott Bessent defended the intervention earlier this week, arguing that a stronger yen benefits American exports. He also noted that a firmer yen reduces the need for Japan to sell off U.S. assets in order to fund currency market interventions.