Japan Finance Minister Katayama warns of action against disorderly FX moves

Japanese Finance Minister Satsuki Katayama stated that authorities are prepared to respond to disorderly or excessively speculative movements in the foreign exchange market. Katayama emphasized that Tokyo will act in accordance with a standing joint statement issued with the United States.

While Katayama declined to characterize current exchange rate levels as good or bad, she noted that conditions have improved compared to previous periods. She stressed the importance of market stability and indicated that Japan continues to coordinate frequently with its U.S. counterparts regarding currency matters.