Japan tempers yen warnings as currency nears 160 mark
Finance Minister Satsuki Katayama repeated standard warnings against speculative moves on Tuesday as the yen weakened toward 160 per dollar. Analysts suggest the softer rhetoric reflects a preference to wait for higher levels to maximize the impact of any future market interventions.
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Japan moderated its verbal defense of the yen on Tuesday as the currency approached the 160-per-dollar threshold. The shift follows a record 11.7 trillion yen intervention since April that failed to sustain a recovery. Tokyo may be preserving resources for a more effective entry point or awaiting a shift in central bank policy.
