The Japanese yen rose to around 157 per dollar on Monday, rebounding from a four-week low hit in the previous session, as authorities signaled the possibility of intervention. Top currency diplomat Atsushi Mimura emphasized that officials would take “appropriate” action against excessive exchange-rate movements, reflecting concern over sharp, one-way trends. His comments followed remarks by Finance Minister Satsuki Katayama on Friday, who warned that Japan would respond to speculative moves in the yen, highlighting worries about surging import costs and their impact on households. The intervention watch comes in the wake of the recent Bank of Japan interest rate hike to 0.75%, marking the highest borrowing costs since 1995. The move was the central bank’s second rate hike this year, signaling a gradual shift from its ultra-loose policy. Meanwhile, the yen remained near historic lows against the euro and Swiss franc, as the rate hike did little to support the currency.
