USD/JPY Breaks 163 for First Time Since 1986; Japan Warns of Intervention
The dollar-yen pair surged past 163, a level not seen since July 1986. Japanese officials responded with fresh intervention warnings, with FinMin Katayama vowing decisive action if needed and Chief Cabinet Secretary Kihara pledging an appropriate response.
USDJPY
USD/JPY has crossed the 163 mark for the first time since July 1986, according to quarterly chart data. The sharp move prompted immediate verbal intervention from Tokyo.
Finance Minister Katayama stated that Japan will take decisive action in the currency market if necessary. Chief Cabinet Secretary Kihara echoed the sentiment, saying the government is ready to "respond as appropriate at any time."
Source: FXStreet Forex News