TOKYO - Japan's government is signaling a dual-track approach to the weakening yen. Finance Minister Satsuki Katayama stated Tuesday that authorities are prepared to act decisively against currency moves at any time. This readiness for intervention, she noted, has been confirmed with the United States.
In a separate statement, Chief Cabinet Secretary Minoru Kihara said the administration's broader goal is to construct an economic structure that can withstand foreign exchange fluctuations. He added that the government also remains ready to step into the market if necessary.
Neither official would comment directly on current exchange rate levels. Following these remarks, the yen slid further, with the U.S. dollar surpassing 162 yen for the first time in four decades.