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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Japanese Finance Minister Seiko Katayama warned about the impact of high oil prices on financial markets and household costs. The Japanese government signaled readiness to intervene in FX markets as USD/JPY approached the 160 level. Subsequently, Japan issued a 'Final Warning' as USD/JPY breached 160, causing the exchange rate to fall below this level.