Katayama said principles for Japan and the US’s July joint yen intervention remain in place, signaling Tokyo is ready for joint action again if needed. Tokyo and Washington said the July 31 move aimed to curb excessive volatility and disorderly markets.
The yen weakened beyond 158 per dollar after Friday’s Bank of Japan rate hike to a 31-year high fell short of reassuring investors that more aggressive tightening may be on the way.
Japanese authorities conducted rate checks in overseas markets on Friday, according to sources familiar with the matter. Such checks are often seen as a precursor to currency intervention; the yen briefly strengthened afterward, but the gains were short-lived.
