Overview
- On Saturday, Sanae Takaichi said yen depreciation is a major opportunity for exporters and noted strong returns in the Foreign Exchange Fund Special Account.
- She later emphasized neutrality on currency direction and a plan to build an economy more resilient to exchange-rate swings.
- Finance Minister Satsuki Katayama has warned of potential action against excessive moves as the yen trades near 18-month lows.
- The currency has seen sharp spikes after reports of New York Fed rate checks that traders view as a possible signal of readiness to intervene.
- Opposition co-leader Yoshihiko Noda attacked the government over higher import costs, while long-dated Japanese government bond yields have climbed to record highs.