Japan Signals Readiness for Currency Intervention Amid Yen Weakness

Officials emphasize the need for stable exchange rates as the yen nears a 34-year low against the dollar.

Chief Cabinet Secretary Yoshimasa Hayashi and Finance Minister Shunichi Suzuki stress appropriate responses to excessive yen volatility.
The yen hovers around 160 per dollar, close to levels that previously triggered significant intervention.
Japan spent ¥9.8 trillion in interventions earlier this year, with the market on high alert for further actions.
Continued pressure on the yen is attributed to Japan's low interest rates and the Bank of Japan's reluctance to reduce bond purchases.
Currency speculators have increased bearish bets against the yen, reflecting expectations of further declines.