TOKYO – Japan will respond if the yen shows excessive movement in the foreign exchange market, Finance Minister Satsuki Katayama said late Friday, as the currency weakened to a roughly one-month low in the 157 range per dollar.
Japanese authorities will “respond properly” to volatile moves of the yen, Katayama told reporters.
The Japanese currency continued extending losses against the U.S. dollar after the Bank of Japan raised its policy interest rate to a 30-year high earlier in the day.
The dollar was trading at 156.73-75 yen in Tokyo at 5 p.m. Friday.