Latest development4 months ago
Japan Signals Intervention Readiness as Yen Stabilizes Near Historic Lows
Finance Minister Katayama reaffirms readiness to intervene in FX markets after the yen hit a 40-year low against the dollar.
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Japan spent $74 billion propping up the yen, which hit a 40-year low. Investors noted that intervention alone is insufficient due to wide U.S.-Japan rate differentials. Finance Minister Satsuki Katayama stated Tokyo's readiness to respond appropriately to disorderly currency moves, confirming close coordination with Washington. The yen steadied at 161.2 per dollar after recovering from a low of 162.84. Bankruptcies linked to the weak yen rose 32.3% in the first half of the year, totaling 45 cases.
Finance Minister Katayama reaffirms readiness to intervene in FX markets after the yen hit a 40-year low against the dollar.
Read the full storyFinance Minister Satsuki Katayama warned of appropriate responses to disorderly yen moves, emphasizing ongoing exchange rate cooperation with US authorities.
Japan injected $74 billion into the market to halt the yen's slide to a 40-year low, but analysts say intervention alone is insufficient as wide US-Japan rate differentials persist.