TOKYO -- Japanese Finance Minister Satsuki Katayama announced Tuesday that the government is prepared to act 24 hours a day against foreign exchange volatility. The minister confirmed close coordination with the United States on the matter.
Currency markets are closely watching the Bank of Japan's upcoming decision and comments from Governor Kazuo Ueda regarding future rate hikes. Japan begins its "Golden Week" holidays on Wednesday, a period typically characterized by thin trading.
Katayama stated the government is "on standby 24 hours" to respond to significant currency swings, even during holiday periods or her upcoming business trip. She also noted that volatility in crude oil futures is impacting the foreign exchange market.