Katayama Refrains from Commenting on Joint Intervention with US Treasury

Japan's Finance Minister Satsuki Katayama has declined to comment on the effectiveness of a joint intervention with the US Department of the Treasury, according to Reuters. The intervention was conducted early Monday, and Katayama stated that Tokyo and Washington will not hesitate to take further action if needed.

The USD/JPY currency pair is currently up 0.26% on the day at 157.60. This comes as the Bank of Japan (BoJ) has been implementing a gradual unwind of its ultra-loose monetary policy, which has given some support to the Japanese Yen.

Katayama's comments suggest that the joint intervention is still ongoing and may be continued if necessary to stabilize the currency markets.