Japan Reaffirms Readiness for Coordinated Currency Intervention

Japanese Finance Minister Satsuki Katayama has reiterated that Tokyo remains committed to coordinated currency intervention with the US. Speaking on September 24, she stated that the principles guiding their joint operation in July remain intact.

The operation aimed to counter excessive volatility and disorderly market moves, and Katayama emphasized that these principles 'remain alive'.

The Japanese yen has been under pressure, weakening beyond 158 per dollar after the Bank of Japan's recent rate hike. Authorities conducted checks on currency markets overseas, a move often seen as a precursor to intervention.