Japan's Katayama Reiterates Readiness for Forex Intervention

Tokyo, July 24 (Jiji Press)--Japanese Finance Minister Satsuki Katayama on Friday reiterated authorities' readiness to intervene into foreign exchange markets after the dollar approached 164 yen, a fresh 39-year high.

"We stand ready to respond appropriately if necessary. This means that we will take resolute actions decisively," Katayama said at a press conference.

She said Japanese and U.S. authorities are on the same page, after the U.S. Treasury Department on Thursday said "excess volatility in the yen is undesirable."

Katayama said the two sides are "closely communicating 24 hours a day, 365 days a year" in line with a Japan-U.S. joint statement in September that supported currency market intervention to address excessive volatility.

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