Yen nears four-decade low, and Katayama issues warning
The Japanese yen has dropped past 161 to the dollar, reaching levels not seen since the 1980s. Finance Minister Satsuki Katayama stated Tokyo will respond appropriately to currency moves at any time. Recent market volatility led some traders to suspect an intervention was occurring.
What changed
Katayama specified that Tokyo will respond to currency movements at any time.
Live updates
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Finance Minister Katayama Warns of Action as Yen Hits Four-Decade Low
confidence 90%The Japanese yen has dropped past 161 to the dollar, reaching levels not seen since the 1980s. Finance Minister Satsuki Katayama stated Tokyo will respond appropriately to currency moves at any time. Recent market volatility led some traders to suspect an intervention was occurring.
What's confirmed:
- The Japanese yen has fallen past 161 to the dollar.
- Finance Minister Satsuki Katayama warned of bold action regarding currency moves.
Still unconfirmed:
- Some traders suspected that currency intervention was underway.
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Yen Approaches 40-Year Low Despite Intervention and Rate Hikes
confidence 90%The Japanese yen has fallen past 161 to the dollar, nearing levels not seen since the 1980s. Finance Minister Katayama has warned of bold action as previous efforts, including a Bank of Japan rate hike, failed to stop the decline. Recent drops following a Fed decision have erased gains made since April.
What's confirmed:
- The yen is nearing a 40-year low.
- Finance Minister Katayama warned of bold action regarding forex intervention.
- A Bank of Japan rate hike failed to stop the yen's decline.
- The yen fell past the 161-to-the-dollar mark.
- Recent yen falls erased intervention gains seen since April.
Still unconfirmed:
- Authorities spent a record $73 billion defending the currency.
- The finance minister's comments were not as strong as those made in April.