Key Facts
• October 31: Satsuki Katayama addressed yen trends in a press conference.
• She noted ‘sharp one-sided movements’ in the yen’s value.
• Highlighted ‘high tension’ over excessive or disorderly fluctuations.
• October 30: Yen fell to 154.5 per dollar, an 8-month low.
• Triggered by cautious U.S. Fed stance on rate cuts and Bank of Japan’s lack of support for rate hikes.
• October 31, 10:30 AM: Yen recovered slightly to 153.5 per dollar after Katayama’s remarks.
Summary
Japanese Finance Minister Satsuki Katayama expressed concerns over the yen’s sharp depreciation during an October 31 press conference. She emphasized vigilance against excessive or disorderly currency movements, indirectly addressing speculative trading. The yen’s decline was spurred by contrasting central bank policies: the U.S. Federal Reserve’s cautious stance on rate cuts and the Bank of Japan’s reluctance to support rate hikes. On October 30, the yen hit an 8-month low of 154.5 per dollar. However, following Katayama’s comments, the yen rebounded slightly to 153.5 per dollar by the morning of October 31.
