US Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama have repeatedly signaled readiness for further coordinated yen purchases if USD/JPY sustains moves above the 160 threshold, following their record joint intervention in late July that bought roughly ¥14 trillion. With the pair trading near 158.3–158.5 amid a wide US-Japan interest rate differential and resilient US core CPI prints, trader focus centers on verbal and potential actual intervention to counter yen undervaluation. The October 15 G20 finance ministers’ meeting in Bangkok offers the next high-profile venue for bilateral coordination signals, while the Bank of Japan’s October 30 policy decision and any fresh US data releases could shift rate expectations and intervention odds. Market-implied odds reflect ongoing intervention risk capping dollar upside despite favorable fundamentals.