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Katayama attributes recent yen moves to speculative trade

Katayama said speculative trade drove recent yen moves after the Strait of Hormuz opened. Japan and the U.S. will communicate more on exchange rate movements.

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Japanese Finance Minister Satsuki Katayama stated on Friday that recent fluctuations in the yen have been driven significantly by speculative trading. The currency experienced a rebound following news that eased concerns regarding trade passage in the Middle East.

Holographic security features on the new Japanese 5,000 yen banknote are shown at the Bank of Japan's currency museum in Tokyo, photographed by Issei Kato for Reuters.
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