Japan ready '24 hours' to act on currency swings, finance minister says
Japan's Finance Minister Satsuki Katayama speaks to media after a meeting involving the Financial Services Agency, the Bank of Japan, the National Cybersecurity Office, the country's top three banks and Japan Exchange Group, following concerns about potential vulnerabilities linked to Anthropic's Mythos AI model, in Tokyo, Japan, April 21, 2026. REUTERS/Kim Kyung-Hoon
TOKYO, April 28 : Japanese Finance Minister Satsuki Katayama said on Tuesday that the government was standing by around the clock and ready to take action against foreign exchange volatility while closely coordinating with the United States.
Currency markets are awaiting a decision later on Tuesday from the Bank of Japan and comments from Governor Kazuo Ueda on the outlook of future rate hikes. Japan enters the "Golden Week" holidays on Wednesday, when trading becomes thin.
Asked whether she would be ready to respond if there were any big swings during holiday-thinned trading or during her business trip to an Asian Development Bank gathering at the weekend, Katayama said: "We are on standby 24 hours."
Speaking at a regular news conference, Katayama added that volatility in the crude oil futures market was affecting the foreign exchange market.
The BOJ is expected to stand pat on interest rates and markets will be looking to gauge how hawkish Ueda's remarks will be when he speaks at the post-decision press conference.
