Japan’s Katayama Warns on FX as Middle East Weighs on Yen

Japan is monitoring financial markets with the utmost vigilance and will take any necessary action in response to sharp movements, Finance Minister Satsuki Katayama said, as volatility intensifies following the US and Israeli attack on Iran.

“We recognize that significant fluctuations have occurred in financial markets in light of the recent developments in the Middle East,” Katayama told reporters Tuesday. “The government is watching market movements with an extremely high sense of urgency, and will take all necessary measures, while working closely and nimbly with overseas authorities,” she said.