Japan Ready to Intervene in Forex Markets Amid Dollar's Historic Surge

Tokyo Finance Minister Satsuki Katayama reiterated Japan's readiness to intervene in foreign exchange markets, citing the dollar's recent surge to a fresh 39-year high of 164 yen.

Katayama made this statement at a press conference on Friday, reiterating the country's stance after the U.S. Treasury Department expressed concerns over 'excess volatility' in the yen.

The Japanese and U.S. authorities are said to be closely communicating, as per a joint statement issued in September that supported currency market intervention to address excessive volatility.