Japan Prepares to Intervene as Yen Slips Below 164

Japan's Finance Minister Satsuki Katayama said the government is prepared to take decisive action when needed, as the yen continues to weaken and approaches its weakest level in nearly four decades.

The currency briefly slipped below 163.99 per U.S. dollar, prompting concerns that rising crude oil prices will hit Japan's import-reliant economy.

Katayama emphasized that the government will respond accordingly as required, signaling a willingness to intervene if necessary.