Japan stands ready to take "decisive" action to stem the yen's depreciation, an official said Tuesday, as the currency traded in the lower 160 range against the U.S. dollar, near a level that previously prompted Japanese authorities to step into the currency market.
"Given the circumstances, there is no change in the fact that we are increasingly in a position to take decisive action," Finance Minister Satsuki Katayama said.
Japan's government and central bank spent a record 11.73 trillion yen (around 73.2 billion U.S. dollars) on currency market intervention between April 28 and May 27 this year to support the country's currency amid its steep fall against the U.S. dollar.
Before the operations, the yen had weakened to around 160.72 against the dollar, its lowest level since July 2024.
The interventions helped the yen strengthen to the 155 zone against the dollar at times, but their effectiveness appeared short-lived, as the currency has recently resumed its weakening trend.
Japan remains ready for "decisive" action against yen depreciation: finance minister
Japan remains ready for "decisive" action against yen depreciation: finance minister
Iran said Monday nationwide aviation operations had returned to normal after lifting flight restrictions imposed during military escalation with Israel.
Earlier in the day, Iran's Airports and Air Navigation Company announced all flights at airports across the country had been canceled until further notice, according to the official IRNA news agency.
The Israeli military the same day released footage of airstrikes on air defense systems in western and central Iran. The Israel Defense Forces said the strikes were aimed at enhancing air superiority in Iranian airspace and eliminating potential threats to Israel.
The escalation came amid U.S.-Iran talks and followed Israeli airstrikes in Beirut, Lebanon, on Sunday that killed at least two people. Iran responded with a barrage of missiles, and Israel retaliated early Monday with strikes targeting sites in western and central Iran.
Also on Monday, U.S. forces disabled an unladen oil tanker in the Gulf of Oman, the U.S. Central Command said, claiming the vessel violated the ongoing U.S. naval blockade against Iran by attempting to sail to an Iranian port.
U.S. Central Command (CENTCOM) disabled Palau-flagged M/T Marivex as it transited international waters in the Gulf of Oman toward Iran, the command said on X, adding that the vessel's crew failed to comply with directions from U.S. forces.
Marivex is no longer sailing to Iran after an F/A-18 Super Hornet from USS Abraham Lincoln fired a precision munition into the ship's engineering and steering spaces, said the command.
Since the blockade was initiated on April 13, the U.S. military has disabled seven "non-compliant vessels," redirected 134 ships that complied, and allowed 42 vessels supporting humanitarian aid to pass, according to the command.
Middle East tensions rise as Iran reopens skies, Israel hits defenses
