Japan's Finance Minister Satsuki Katayama issued a fresh warning Friday that Tokyo is prepared to take "decisive action" against excessive yen volatility, as the currency hovers near the psychologically critical 160-per-dollar mark.
"We will respond appropriately at any time when necessary," Katayama told parliament, attributing recent sharp moves to speculative activity tied to the Middle East conflict that began in February.
The yen touched 160.015 per dollar Wednesday, the first time since April 30, when Tokyo likely intervened. Markets widely view 160 as the trigger line for official action.
Katayama noted Japan and the U.S. remain in close contact on exchange rates, under a September joint statement affirming "market-determined" rates but reserving intervention rights against excessive volatility.