Yen Falls Past 160 Per Dollar; Japan Finance Minister Says Time for Decisive Action Is Near
Summary
- The yen fell past 160 yen per dollar, hitting its weakest level since July 2024, or about one year and nine months.
- Japanese Finance Minister Satsuki Katayama said the time for “decisive action” was near, signaling possible direct foreign-exchange market intervention through dollar selling and yen buying.
- Japan’s government and the Bank of Japan previously carried out large-scale market intervention worth about $34.7 billion in July 2024, when the exchange rate climbed to 161.7 yen per dollar.
Forecast Trend Report by Period
The yen fell past 160 per dollar on April 30, with Japanese Finance Minister Satsuki Katayama saying the time for “decisive action” was near.
Katayama made the remark to reporters, Kyodo News reported. The comment signaled possible direct intervention in the foreign-exchange market through dollar selling and yen buying.
In Tokyo trading, the yen weakened to nearly 160.7 per dollar intraday, its lowest level since July 2024 and the weakest in about one year and nine months.
Japan’s government and the Bank of Japan previously carried out large-scale market intervention worth about $34.7 billion in July 2024, when the exchange rate climbed to 161.7 yen per dollar.
Shin Yong-hyun, Hankyung.com reporter, yonghyun@hankyung.com
Korea Economic Daily
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