Japan finance minister says ready to respond on yen, in contact with US authorities
FILE PHOTO: Japan’s Finance Minister Satsuki Katayama attends the upper house budget committee session at the parliament in Tokyo, Japan April 7, 2026. REUTERS/Issei Kato/File Photo
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TOKYO, July 3 : Japanese Finance Minister Satsuki Katayama said on Friday the government will respond appropriately on currency movements, reiterating her warnings as traders braced for possible intervention from the Japanese authorities.
“Our stance has not changed. We will respond appropriately at any time as needed,” Katayama said at a regular press conference when asked about the yen’s persistent weakness.
Katayama also emphasised that the government has been in close contact with U.S. authorities on foreign exchange issues, “even when the U.S. is on holiday.”
The yen jumped suddenly against the dollar on Thursday, with traders alert to the prospect of intervention and jumpy about a possible new approach to official currency-buying.
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Traders thought the move may have been too small to suggest intervention, but the yen soon caught a further boost as softer-than-expected U.S. jobs figures sent the dollar lower.
The yen traded at 161.2 per dollar on Friday which compares with a 40-year low of 162.84 hit earlier this week.
On the topic of surging Japanese government bond (JGB) yields, Katayama stressed the government’s commitment to maintaining confidence in the bond market and the sustainability of public finances.
Benchmark JGB yields jumped to a near 30-year high on Friday with investors concerned about the fiscal health of the Japanese economy.
Source: Reuters
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