Japan's Finance Minister Satsuki Katayama reaffirmed on June 3 that Tokyo's stance on taking 'decisive' action against the yen's weakness remains unchanged. The statement came as the Japanese currency traded around 160 yen against the U.S. dollar, close to the level that prompted government intervention in the foreign exchange market earlier this year.
Speaking at a regular press conference, Katayama stressed that the government will closely monitor exchange-rate movements and will not rule out any measures, including direct intervention, to stabilize the market. The move underscores Tokyo's determination to shield the yen from excessive depreciation, which is driving up import costs and squeezing household budgets.
In April, Japan conducted a large-scale yen-buying intervention after the exchange rate hit the 160 yen per dollar mark. Authorities at the time said the action was necessary to counter speculative swings. With the yen remaining under pressure, markets are now questioning whether Tokyo will intervene again soon.
