The yen weakened, with the dollar reaching the ¥158 range. The government and the Bank of Japan conducted a rate check as a preparatory step for intervention, while Finance Minister Katayama Satsuki (片山さつき) cautioned the market that the principle established after the intervention remains in effect.
The yen weakened in the foreign exchange market, with the dollar rising to the ¥158 range and USD/JPY briefly reaching around ¥158.40. This was the yen's weakest level in three weeks.
The government and the Bank of Japan conducted a rate check on the 18th, a preparatory step for foreign exchange intervention, but the yen's depreciation continued afterward.
Against this backdrop, Finance Minister Katayama Satsuki (片山さつき) said, “The principle established since the coordinated intervention remains in effect,” cautioning the market.
The move is linked to the stance of the fiscal and monetary authorities toward the foreign exchange market, and attention is focused on developments ahead and the possibility of additional market intervention.