Japanese Finance Minister Satsuki Katayama stated that the government will respond appropriately to currency movements, reiterating her warnings as traders prepare for possible intervention from Japanese authorities.
Currency Movements and Intervention
Katayama emphasized that the government has been in close contact with U.S. authorities on foreign exchange issues. The yen jumped suddenly against the dollar on Thursday, with traders alert to the prospect of intervention and concerned about a possible new approach to official currency-buying.
The yen traded at 161.2 per dollar on Friday, compared to a 40-year low of 162.84 hit earlier in the week. Katayama also stressed the government’s commitment to maintaining confidence in the bond market and the sustainability of public finances, as benchmark Japanese government bond yields jumped to a near 30-year high on Friday.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
