Japan’s Money Minister Signals Quick Action on the Yen

The Japanese finance chief, Satsuki Katayama, told reporters that the government is ready to act if the yen’s value shifts too much. She repeated a warning that the authorities could step in to keep the currency stable, and she stressed that Japan is staying in close touch with U. S. officials even on holidays. Traders were nervous after the yen rose sharply against the dollar last Thursday, and they wondered whether this signaled a new buying strategy by Japan. The jump seemed small at first, but the yen gained more ground when U. S. job data came in weaker than expected, pushing the dollar lower.

By Friday the yen was trading around 161. 2 per dollar, close to a 40‑year low that hit 162. 84 earlier in the week. Meanwhile, Japanese government bond yields climbed to their highest level in nearly three decades, raising concerns about Japan’s fiscal health. Katayama said the government is committed to keeping confidence in the bond market and ensuring public finances remain sustainable. She assured investors that Japan would act appropriately whenever needed to support the economy.

Actions