Japan vows response as yen weakens past 160 per dollar
Japan's finance minister Satsuki Katayama warned of a response to yen volatility after the currency briefly passed 160 per dollar, per Reuters.
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what happened
Tokyo will act as needed against currency swings, Finance Minister Satsuki Katayama said, according to Reuters. Speaking at a regular news conference on Friday, she repeated her warning after the yen briefly slipped past 160 per dollar for the first time since early September.
A day earlier, top currency diplomat Atsushi Mimura said it was “too early to forget” about this summer’s intervention. Japan spent a record 15.4 trillion yen ($96.47 billion) over three sessions from July 30 to August 3, when the currency neared 164 per dollar, its weakest level in 40 years.
In its quarterly report released Thursday, the New York Fed said it had also bought yen on July 31 in spot trading, selling euros from its Exchange Stabilization Fund. It was the first US purchase of yen since 1998.
why it matters
The key question for traders is whether the threat of joint action can halt further yen weakness, especially if the Fed keeps its tougher rate outlook. Summer’s operations show Tokyo and Washington are willing to step in together.
market impact
Yen and USD/JPY: threat of joint intervention supports the currency
- Japanese yen pressure up — threat of joint intervention by Tokyo and Washington supports the currency
- USD/JPY pressure down — possible intervention may cap further rise in the pair
tags
instruments
on polymarket
sources
- Japan's finance minister vows action as yen breaches 160 threshold — Reuters, 13 November 2026 at 01:46 UTC
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