As the yen approaches 160 against the US dollar, Japan’s Finance Minister hints at possible intervention

Golden Ten Data reported on March 27 that Japan’s Finance Minister, Katayama Satsuki, hinted that “bold action” may be taken to address exchange rate fluctuations, referring to intervention, as the yen approaches a threshold that prompted Japanese authorities to step into the market several times in 2024. “Ultimately, it comes down to taking decisive measures, including bold steps,” Katayama stated. The reason for the yen's weakness is the ongoing tensions in the Middle East. Before her remarks, the yen was fluctuating around 159.70 against the US dollar, just a step away from the 160 level—the point at which authorities last intervened to support the yen. After her comments, the yen briefly strengthened to 159.49 before giving up some gains.