Key facts
- Japan's Finance Minister Satsuki Katayama said principles for joint Japan-US currency intervention remain in place.
- The previous joint intervention occurred on July 31.
- The July intervention aimed to counter excessive volatility and disorderly market moves.
- Japanese authorities conducted rate checks in overseas markets on Friday.
- The yen briefly strengthened after the rate checks but gains were short-lived.
- The yen weakened beyond 158 per dollar after the Bank of Japan's rate hike on Friday.
TOKYO, Sept 24 (Reuters) - Japanese Finance Minister Satsuki Katayama said on Thursday that the principles underpinning coordinated Japan-US currency intervention remain in place, signalling Tokyo's readiness to take joint action again if needed. "The principles since the previous joint intervention remain alive," Katayama told reporters, referring to the July 31 operation that Tokyo and Washington said was aimed at countering excessive volatility and disorderly market moves. Katayama said she would not comment on foreign exchange levels. The Japanese yen has weakened beyond 158 per dollar after the Bank of Japan's rate hike on Friday fell short of reassuring investors that more aggressive tightening may be on the way. Japanese authorities conducted rate checks in overseas markets on Friday, according to sources familiar with the matter, a move often seen as a precursor to currency intervention. The yen briefly strengthened after the checks, but the gains proved short-lived.