Japan's finance minister issued a new warning to speculative foreign exchange traders and hinted that Japan and the US agree on the recent trend of the US dollar against the yen. Katayama Satsuki said at an event hosted by the London Stock Exchange Group in Tokyo on Tuesday that the Japanese government will take necessary action against speculative fluctuations in the yen, and this position has not changed. “I think Japan and the US agree that we are ready to act if necessary,” she said. The finance minister did not comment on the possibility of joint intervention with the US. However, she emphasized a recent US report, which pointed out the weak trend of the yen over the past few decades and Washington's concerns about excessive exchange rate fluctuations. At the time of the announcement, investors were still wary of the Japanese government's possible operation to buy yen. Despite a record intervention earlier this year, the exchange rate of the yen against the US dollar is still hovering near an all-time low, with the latest report of 163.75 yen.

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