Finance Minister Katayama Satsuki (片山さつき) said the foreign exchange market had “improved from before” in assessing the three months since the coordinated Japan-US intervention. The yen briefly weakened to ¥164 per dollar but is currently trading in the ¥157 range.
Finance Minister Katayama Satsuki (片山さつき) assessed the three months since the coordinated Japan-US intervention and said the foreign exchange market had “improved from before.”
Japan and the US carried out yen-buying intervention at the end of July, the first in 28 years, and the yen at one point weakened past ¥199 in late July, but has since traded in the ¥157 range.
Although Katayama avoided commenting on specific foreign exchange levels, she acknowledged that the yen had weakened against the dollar and stressed the policy of maintaining close communication and an orderly foreign exchange market going forward.