TOKYO - Japan is watching currency moves with "extremely high vigilance" and ready to take all possible steps anytime, Finance Minister Satsuki Katayama said Thursday, in a warning against speculators as the dollar approached the 160 yen line, a level unseen since 2024, on rising Middle East tensions.
Katayama told reporters after a Cabinet meeting that the government is "fully on guard," hours before the Bank of Japan concludes a two-day policy setting meeting that she said could prompt speculative trades.
The dollar climbed to around 159.90 yen in New York overnight, as buying of the currency in times of crisis was spurred with the Iran war leading to rises in crude oil prices, dealers said.
Katayama said surges in oil prices are also affecting movements in the foreign exchange market and there are "speculative" aspects to it.
