Yen–dollar rate breaks 160 yen mark; Japan's finance minister says "the time for decisive action is drawing near"

[Financial News, Tokyo = Seo Hyejin, correspondent] As the yen–dollar exchange rate broke above 160 yen per dollar on the 30th, Japanese Finance Minister Satsuki Katayama said, "The time to take decisive action is drawing near."
According to Nihon Keizai Shimbun, or The Nikkei, Katayama made the remarks at the Ministry of Finance (Japan) while speaking with reporters.
He added, "I cannot say any more than this," but, noting the start of Golden Week, Japan's biggest holiday period from April 29 to May 6, he said, "All I will say is that people should keep their smartphones close, even when going out or during the holidays."
In Tokyo foreign exchange market trading that day, the yen–dollar exchange rate rose as high as 160.7 yen intraday, marking its highest level since July 2024, or the weakest yen in about one year and nine months.
In July 2024, when the yen–dollar exchange rate climbed to 161.7 yen per dollar, the Japanese government and the Bank of Japan (BOJ) intervened in the market with an operation worth about 5 trillion won.
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