The yen weakened toward ¥158 per dollar early Nov. 2 as the Bank of Japan (BOJ) kept future rate increases in view; Finance Minister Satsuki Katayama warned of disorderly moves, Reuters reported.
FXStreet recorded USD/JPY at 157.77, up 0.17%, at 12:56 a.m. ET (05:56 UTC) Monday. An earlier Investing.com reading showed 157.70 at 12:32 a.m. ET (05:32 UTC). USD/JPY states how many yen one dollar buys; a higher quote means the yen has weakened against the dollar.
On Oct. 30, BOJ policy makers voted 8-1 to keep the overnight call-rate guideline at around 1.25%. BOJ board member Hajime Takata dissented, proposing that the guideline rise to around 1.5%.
The BOJ’s October outlook keeps further increases possible but leaves the timing and pace undecided. It says future moves will depend on the bank’s assessment of the economy, inflation and financial conditions. It did not name a date for the next hike.
Reuters reported Katayama said Japan would act if currency trading became disorderly or excessively speculative and keep in contact with U.S. authorities. A 2025 statement by U.S. and Japanese finance ministers reserved intervention for exchange-rate episodes involving excessive volatility or disorderly moves.
Oil also fell in an early snapshot. Reuters put West Texas Intermediate crude at $100.69 a barrel, down 3.3%, at 11:07 p.m. ET Sunday (04:07 UTC Monday). The Agency for Natural Resources and Energy (ANRE) said Japan imported 99.7% of its crude in 2024, with more than 90% coming from the Middle East. Those figures suggest lower oil prices could ease pressure on the country’s import costs.
The BOJ’s next scheduled policy meeting is Dec. 17–18.
