In a press conference summary published by the Japan Financial Services Agency, Finance Minister Katayama reiterated that authorities will respond appropriately in foreign exchange markets whenever necessary after the previously disclosed JPY 11.7349 trillion of intervention from April 28 to May 27. He declined to comment further on intervention operations, their effectiveness, or current exchange rate trends. Katayama said the intervention amount announced on May 29 was correct and had been released on the usual schedule. He pointed to continued uncertainty around the Strait of Hormuz and heavy moves in oil and other spot markets as sources of elevated volatility. On communication with markets, he said authorities had kept existing warning language because changing the terms of alert while conditions repeatedly triggered them could create misunderstandings. He also referred to close exchanges with Secretary Bessent through bilateral meetings and discussions at the Group of Seven and Group of Twenty, with both sides closely monitoring market conditions.
Japan Financial Services Agency2026-06-04
Japan Financial Services Agency publishes finance minister remarks reiterating readiness to act in foreign exchange markets after JPY 11.7349 trillion intervention
The Japan Financial Services Agency reported that Finance Minister Katayama reaffirmed authorities will act in foreign exchange markets as needed following the JPY 11.7349 trillion intervention between April 28 and May 27, while declining to discuss specific operations or exchange rate levels. He confirmed the intervention figure and timing of its release, cited geopolitical and commodity market uncertainty as drivers of volatility, and noted unchanged warning language and coordination with international counterparts.