Japanese Finance Minister Satsuki Katayama stated Tuesday that authorities are prepared to intervene in the foreign exchange market as necessary, citing high volatility in oil markets due to the continued closure of the Strait of Hormuz.
"We retain our stance of being ready to respond in the currency market as needed," Katayama said during a press conference. She declined to comment on specific intervention or recent yen movements.
Katayama emphasized that Japan is closely coordinating with U.S. authorities on currency matters, with both sides monitoring market developments.