Katayama Threatens 'Decisive Action' as USD/JPY Falls 0.8% on Yen Intervention Fears

Japan's Finance Minister Katayama warned of 'decisive action' against yen speculators on April 24 as the currency hit multi-decade lows, triggering a 0.8% USD/JPY drop intraday and surging yen call demand. This escalates from April 21 alerts on high market volatility and readiness to intervene, plus April 23's 'free hand' signal near 160—each prompting initial yen strength. Past moves like July 2024's plunge from 159 to 140 (reversed by January 2025) and $60bn 2022 spends underscore temporary downside risks for USD/JPY amid volatility spikes.