Japan Says Currency Policy Unchanged After Joint Intervention With U.S.

Japan's currency policy stance has not changed since its joint intervention with the United States, and authorities will work to maintain market order, Finance Minister Satsuki Katayama said at a briefing on Tuesday (the 8th), according to ETNet. She said Japan will continue close contact with the U.S. Treasury to achieve an orderly foreign exchange market. Against a backdrop of sharp yen volatility and a steep decline in Japan's foreign reserves, Katayama's remarks were seen as a key signal of deeper Japan-U.S. coordination on exchange-rate policy. The yen was trading at about 153.58 per dollar on Tuesday morning, stronger than around 160 a week earlier.