US inflation data came in hotter than expected, pushing the yen down to its weakest level this month against the US dollar, prompting Japan's Finance Minister Katayama Atsuko to warn speculators that authorities stand ready to act again in the currency market if necessary.
She also stated that since the joint US-Japan intervention in July to support the yen, the positions of Washington and Tokyo have not changed.
Speaking to reporters on Thursday morning in Bangkok ahead of a G20 meeting, Katayama Atsuko said: "The signals sent when the two countries carried out coordinated intervention represent our current foreign exchange stance, and there has been absolutely no change. The United States now stands with us, and we will not hesitate to act when necessary."
The yen came under pressure after US consumer price data showed inflation hitting a five-month high, briefly touching 158.95 per dollar; the yen's losses then narrowed as US Treasury yields pulled back.
Japan's Finance Minister is attending a series of international meetings, where finance ministers from various countries are expected to discuss a number of global challenges, including rising bond yields and financial risks posed by frontier artificial intelligence.
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