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Market Chatter: Japan Intervenes to Lift Yen After Drop Near 160

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Japan entered the foreign exchange market to support the yen after it slid to around 160 per dollar, Nikkei reported Thursday, citing a government official.

The currency strengthened to the mid-155 range following the move. Finance Minister Satsuki Katayama had earlier warned that authorities were close to taking action against excessive weakness, according to the report.

The intervention is the first since July 2024, when Japan spent about 5.53 trillion yen over two days after the currency hit a decades-low, the report said.

Yen selling has intensified on rising oil prices and expectations of a wider trade deficit, while a stronger dollar, backed by steady U.S. rates, added pressure, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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