Japan¡¯s Finance Minister Satsuki Katayama used her strongest language in weeks to warn of possible intervention in the currency market, but did little to scare yen speculators as the currency continues to hover near its lowest level in four decades.
¡°If it becomes necessary we will take decisive action at any time,¡± Katayama said Friday, using a phrase that typically refers to direct entry into in the foreign exchange market. Katayama warned of bold action at the end of June, but has largely stuck with the softer phrase ¡°will take appropriate action¡± since then.
She declined to comment on specific yen levels.
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