Japan ready to act on FX volatility, mindful of US bond market impact
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Japan is prepared to intervene against excessive foreign exchange volatility while avoiding impacts on U.S. Treasury yields. Finance Minister Satsuki Katayama stated that Japan may have spent nearly 10 trillion yen ($63 billion) on yen-buying interventions since April 30. The yen has fluctuated significantly, nearing the 160 mark, which is critical for intervention. Discussions at the G7 meeting included the causes of volatility, such as crude oil prices and speculative behavior, but no intervention was confirmed.
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