Japan Yields to Yen Rally Hints at US Support

Japan's finance minister Satsuki Katayama sidestepped questions about whether the yen's sharp rally was due to intervention. When asked if authorities had intervened in the foreign-exchange market, Katayama said only that they would 'remain on high alert and respond as appropriate.' This response comes after a significant increase in the value of the yen overnight.

The Finance Minister's statement hints at potential support from overseas counterparts, including US officials. However, it does not confirm any direct involvement or intervention by Japanese authorities.