CommentSuch a move would push up US Treasury yields, weaken yenJapanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent. The two governments coordinated on a yen-buying intervention earlier this summer. (Nikkei montage/Source photos by Nikkei, Reuters)SHIGESABURO OKUMURAAugust 28, 2026 10:30 JSTTOKYO -- The debate roiling Japanese politics right now about how to fund a planned consumption tax cut has made at least one thing clear: Japan's foreign reserves are enormous, but trying to use them to cover the cut would send the wrong signal to the market.
Japan should not raid its forex reserves for Takaichi's food tax cut
Such a move would push up US Treasury yields, weaken yen
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