Japan flagged its concern over sudden and one-sided moves in the currency market in its first warning to speculators in 2025 after the yen hit its lowest level since July.
“We will take appropriate action if there are excessive movements in the currency market,” Finance Minister Katsunobu Kato told reporters Tuesday, in a veiled threat of direct intervention. Kato said he is “deeply concerned” about recent moves, including those driven by speculators.
The finance minister spoke after the yen touched 158.42 against the dollar on Tuesday morning, its weakest in almost six months. The yen strengthened following Kato’s remarks. The currency was trading around 158.11 at lunchtime in Tokyo.