Japan's Katayama stresses close US contact on yen

Japan's finance minister said Tokyo remains in constant contact with U.S. officials and is on high alert for speculative yen weakness, signaling a willingness to intervene again if needed. She noted that past interventions have worked, reinforcing an active policy backstop for the currency. The remarks are modestly negative for yen bears and may support near-term FX volatility.

Analysis

Japan's finance minister said Tokyo remains in constant contact with U.S. officials and is on high alert for speculative yen weakness, signaling a willingness to intervene again if needed. She noted that past interventions have worked, reinforcing an active policy backstop for the currency. The remarks are modestly negative for yen bears and may support near-term FX volatility.