At a press conference, Finance Minister Katayama Satsuki (片山さつき) said the yen's movements were one-sided and excessively rapid. The yen temporarily moved into the ¥160 level in overseas markets on the 12th, and she indicated that it was too early to forget the lessons of the summer.
At a press conference following the Cabinet meeting on the 13th, Finance Minister Katayama Satsuki (片山さつき) said the current foreign-exchange market was showing "one-sided and excessively rapid movements" toward a weaker yen. The Ministry of Finance said it would respond appropriately and monitor future developments.
In overseas markets on the 12th, the yen temporarily fell to the ¥160 level per dollar, reaching a level not seen in about 2 and a half months, since early September. Market participants are increasingly wary of rapid foreign-exchange movements.
Atsushi Mimura (三村淳), vice-minister of finance for international affairs, said the movements of the past several days seemed too rapid, indicating that it was still too early to forget the lessons of the summer and warning the market.