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Japan Finance Minister signals readiness to act on forex

Finance Minister Satsuki Katayama stated that the government will respond to currency moves. The yen hovers near the critical 160-per-dollar level on Friday.

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Finance Minister Satsuki Katayama said on Friday morning that Japan is prepared to respond to USD/JPY volatility at any time. The yen hit 160.015 per dollar on Wednesday, marking the first time the currency has touched that level since April 30. This price point is widely considered by market participants to be a critical threshold for official government intervention.

Testing the Intervention Line
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