【Japanese Yen Trend】The Japanese Yen against the Hong Kong dollar is at 4.91. Japanese Finance Minister Shōzō Katayama hinted at intervention in the currency market.

The Japanese yen is hovering around 160 per dollar, and the Japanese government has repeatedly intervened to support the yen, but with little effect. On Friday (27th), Japanese Finance Minister Shunichi Suzuki stated that the yen’s weakness stems from tensions in the Middle East, and the Japanese government will take decisive measures in response, emphasizing that speculative activities are caused by trends in the oil market, suggesting that the Japanese government may take bold actions to address fluctuations in the yen’s exchange rate.

Japan has intervened in the yen multiple times at the 160 level

Currently, the yen is trading at 159.5 per dollar, and 100 yen is trading at 4.909 Hong Kong dollars; this is close to the level at which Japan intervened in the foreign exchange market multiple times in 2024.

Suzuki’s remarks imply that the Japanese government is not only focused on the exchange rate market but also on the commodities trading market. Earlier, it was reported that the Japanese Ministry of Finance had discussions with market participants about a possible intervention in crude oil futures trading.

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