TOKYO - Japanese Finance Minister Satsuki Katayama said Friday the government is ready to intervene in foreign exchange markets as needed, as the yen hovers near the psychologically critical 160-per-dollar level.
The yen was trading at 160.015 per dollar, after touching the 160 mark Wednesday for the first time since April 30. That level is widely seen by traders as a potential trigger for official action.
Katayama told a press conference the government will respond appropriately at any time when necessary.