USD/JPY RISES TO 157.85 WHILE JAPAN REITERATES FX INTERVENTION WARNING

USD/JPY rose to around 157.85 during Monday’s Asian session, extending its recovery after falling below 157.00 on Friday following the Bank of Japan’s policy decision. Japan’s Finance Minister Satsuki Katayama reiterated that the joint foreign exchange statement with the United States remains in effect and that Tokyo is prepared to respond to excessive or disorderly currency movements. However, her comments did little to support the yen as markets assessed the timing of the BoJ’s next rate hike. The wide interest-rate gap between Japan and other major economies continues to weigh on the yen and support USD/JPY.

2 Nov 20261 min read

Daily Market Update November 2, 2026

USD/JPY RISES TO 157.85 WHILE JAPAN REITERATES FX INTERVENTION WARNING

USD/JPY moved higher to around 157.85 during Monday’s Asian session, according to FXStreet, extending its recovery from Friday’s post-Bank of Japan decline below 157.00.

Japan’s Finance Minister Satsuki Katayama said that the joint foreign exchange statement with the United States remains in effect and reiterated that Tokyo is prepared to act against excessive or disorderly currency movements.

According to investingLive, Katayama declined to comment on specific exchange-rate levels and said she “could not describe current levels as either good or bad.”

On Friday, the Bank of Japan kept its policy rate at about 1.25% in an 8–1 vote, according to investingLive.

According to FXStreet, Katayama’s remarks failed to support the Yen amid uncertainty over the timing of the next BoJ rate hike. FXStreet also noted that the wide interest-rate gap between Japan and other major economies weighs on the lower-yielding Yen and lends some support to USD/JPY.

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