The Japanese government will take "appropriate" measures when necessary to address the foreign exchange volatility, Nikkei reported on Wednesday quoting Finance Minister Yoshihiko Noda.
The yen jumped to a fresh 15-year high of 83.61 against the dollar on Tuesday as investors bought the safe-haven Japanese currency on concerns over an imminent slowdown in global economic growth.
Although Noda sharpened his rhetoric on the yen's sharp surge, he left it unclear whether he is considering to conduct market intervention.
"We must take appropriate action when necessary," Noda told reporters at the Ministry of Finance, following the yen's rise to a fresh 15-year high against the dollar on Tuesday.
The minister reiterated his view that the Japanese currency is "moving in a one-sided fashion" and added that the government will closely cooperate with the Bank of Japan to curb the yen's rise.
Japanese policymakers have tried to stem the yen's strength with verbal intervention and Noda expressed Tokyo's increased irritation with the currency's climb on Tuesday.
But that was not enough to stop traders from pushing the yen to new highs as markets may take his refusal to comment on the chance for intervention as a sign the authorities were not ready yet to back up words with action.
Japan has not acted in the currency market after ending in 2004 a massive yen-selling intervention aimed at preventing a rapid yen rise from aggravating deflation and derailing a fragile economy.
For comments and feedback contact: editorial@rttnews.com
August 09, 2025 09:55 ET Central bank decisions, foreign trade data and industrial orders figures were among the highlights this week that saw relations between the U.S. and India hit a new low after President Donald Trump announced a 50 percent tariff on exports from the latter in retaliation for buying Russian oil. That is among the highest slapped on countries exporting to the U.S. In other main news, the Bank of England rate decision this week drew attention as policymakers went for a rare second vote.