Japan Says Agreement with US OKs Intervention for Rapid Moves

Japan’s finance minister said an agreement with the US justifies intervention to cope with sudden currency moves, stepping up her verbal warnings to halt the yen’s weakness.

“We can take decisive measures against sudden movements that do not reflect fundamentals. This refers to intervention, and there are no constraints or restrictions on this,” Finance Minister Satsuki Katayama said Friday afternoon in comments that sent the yen a touch higher.