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Finance minister declines to comment on yen intervention for now

The Japan Times·Erica Yokoyama·30 days ago
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#yen#satsukikatayama#currencies#forex#fuelshock#katayama
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Finance Minister Satsuki Katayama declined to comment if authorities intervened to support the yen last week, after reports said they had entered the market for the first time since 2024. "As finance minister, at this stage I’m not in a position to comment,” Katayama told reporters in Samarkand, Uzbekistan, on Sunday, when asked about the reported move. "Speculative moves have been continuing for some time,” she added. Katayama spoke for the first time after Japan reportedly intervened in the currency market on Thursday to support the yen. An analysis of central bank accounts suggests Japan likely spent about $34.5 billion on the operation. The yen strengthened sharply on Thursday after hitting ¥160.72 per dollar earlier in the day. The currency gained further on Friday. Thursday’s suspected interventions came after authorities, including Katayama and top currency official Atsushi Mimura, issued strong warnings about foreign exchange action to traders.…

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