Japan’s Finance Minister Closely Monitoring Bond Markets Amid Heightened Urgency

Katayama, Japan's finance minister, says he is closely monitoring bond markets due to heightened urgency. At the time of writing, the USD/JPY pair is up 0.10% on the day at 155.95.

The Japanese Yen's value is largely determined by the performance of Japan's economy and the Bank of Japan's policy. The BoJ has intervened in currency markets to lower the value of the Yen, but this is rare due to political concerns with its main trading partners.

Recently, the unwinding of ultra-loose monetary policy has given some support to the Yen. This comes after a decade of widening policy divergence between the Bank of Japan and other central banks, particularly the US Federal Reserve.