Japan’s finance minister issues warning after yen breaches 160 to dollar
JGB yield highest in nearly 3 decades; Hormuz blockade fuels inflation fears
Finance Minister Satsuki Katayama issued verbal warnings against the weak yen on Thursday. (Photo by Jo Ishibuchi)
JADA NAGUMO
April 30, 2026 09:35 JST
Updated on April 30, 2026 18:47 JST
TOKYO — The yen weakened past the psychologically significant threshold of 160 to the dollar on Thursday, prompting Finance Minister Satsuki Katayama to issue verbal warnings, telling reporters, “The time is drawing near to take decisive action” against the sharp decline in the Japanese currency.
The rapid depreciation came as fears grew over inflation fueled by the deepening energy crisis sparked by the prolonged war in the Middle East. Inflation worries also led long-term Japanese government bond (JGB) yields to climb above 2.5%.
In afternoon trading, the yen was down 0.7%, slipping into the upper 160 range. At one point, the yen touched its lowest point against the dollar in 21 months. The Japanese currency had fallen past the 160-mark during Wednesday trading in New York as investors sought so-called safe-haven assets like the greenback.
