TOKYO, April 3 (Bernama-Kyodo) -- Japanese Finance Minister Satsuki Katayama said that the Japanese government is ready to take all necessary steps to curb the yen's volatility in a statement made after the US dollar rallied well above the 159-yen line amid the conflict in West Asia, Kyodo News reported.
"Volatility is rising" in the currency and crude oil futures markets due to speculative moves, Katayama said, adding that the weak yen against the dollar is "making an impact on people's lives and the country's economy."
She stressed that she has previously mentioned the possibility of taking "decisive" action in the foreign exchange market to safeguard "what needs to be protected".
The US currency continues to be bought as a safe-haven asset amid the Middle East crisis stemming from US-Israeli attacks on Iran on Feb 28, topping the 160-yen line in late March, a level unseen since July 2024.
Japan last intervened in the currency market on July 11 and 12 in 2024 after the yen had weakened to around a 38-year low against the dollar, reaching nearly 162.
-- BERNAMA-KYODO
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