--- title: "160 level \"hand-to-hand combat\": Japan's finance minister issues intervention warning, Federal Reserve's \"no rate cut\" stance triggers currency market storm" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/279716038.md" description: "Japan's Finance Minister Shunichi Suzuki stated that authorities are prepared to take action against exchange rate fluctuations if necessary, emphasizing a high level of concern about the impact of exchange rates on people's lives. The exchange rate of the yen against the dollar remains stable around 159.80, with the market focused on the upcoming Bank of Japan policy decision. Federal Reserve Chairman Jerome Powell indicated that interest rate cuts will be paused until inflation eases, and rising oil prices have intensified concerns about stagflation in Japan" datetime: "2026-03-19T03:48:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279716038.md) - [en](https://longbridge.com/en/news/279716038.md) - [zh-HK](https://longbridge.com/zh-HK/news/279716038.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/279716038.md) | [English](https://longbridge.com/en/news/279716038.md) # 160 level "hand-to-hand combat": Japan's finance minister issues intervention warning, Federal Reserve's "no rate cut" stance triggers currency market storm According to the Zhitong Finance APP, Japan's Finance Minister stated that authorities are fully prepared to take action against exchange rate fluctuations whenever necessary. At this time, traders are testing the upward potential of the US dollar against the Japanese yen ahead of the Bank of Japan's policy decision later that day. "We are maintaining an extremely high sense of urgency," Finance Minister Shunichi Suzuki said at a press conference following Thursday's cabinet meeting. "Considering the impact of exchange rates on people's lives, we are ready to respond adequately at any time," she said. Suzuki added, "Today is a day when speculators find it easier to act, as we are about to have the Bank of Japan Governor's press conference and a meeting between the leaders of Japan and the United States, in addition to uncertainties in the Middle East situation." After her remarks, the exchange rate of the yen against the dollar remained stable around 159.80; earlier, the yen had briefly fallen to 159.90. In 2024, when the yen's depreciation broke the 160 threshold, Japanese authorities had intervened multiple times to support their currency. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260319/1773890269141871.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Suzuki's comments were made just hours before the Bank of Japan announced its latest policy decision. The market widely expects the bank to keep the benchmark interest rate unchanged, with the focus on Governor Kazuo Ueda's press conference for clues about the interest rate path. Ueda's remarks in explaining past decisions to maintain interest rates have sometimes been interpreted as dovish, leading to a weaker yen. Following the Bank of Japan's meeting in January, the US conducted a "currency check" in coordination with Japanese authorities, which was clearly a demonstration of coordinated action. These measures triggered a rebound in the yen, ultimately strengthening the yen against the dollar by about 7 yen. Earlier that day, the yen fell to 159.90, the lowest level since July 2024. This followed comments from Federal Reserve Chairman Jerome Powell, who indicated that the US central bank would pause further rate cuts until inflation showed clearer signs of easing. Meanwhile, oil prices also rose after Iran and Israel exchanged strikes on major energy facilities in the Middle East. The rise in oil prices, combined with the weakening yen, has heightened concerns that Japan may face "stagflation," a scenario that could prompt increased fiscal spending and complicate the central bank's path toward tightening. Overnight index swaps (OIS) indicate that traders see about a 58% chance of a rate hike in April ### 相關股票 - [Currencyshares JPY Trust (FXY.US)](https://longbridge.com/zh-HK/quote/FXY.US.md) - [Pro Ultr Yen (YCL.US)](https://longbridge.com/zh-HK/quote/YCL.US.md) - [Pro Ultrshrt Yen (YCS.US)](https://longbridge.com/zh-HK/quote/YCS.US.md) ## 相關資訊與研究 - [Benchmark JGB yields rise to one-month high on inflation fears](https://longbridge.com/zh-HK/news/279217048.md) - [LIVE MARKETS-Societe Generale's currency recommendation straitjacket](https://longbridge.com/zh-HK/news/279777488.md) - [Shimizu Corp - secondary offering of shares to be priced at 2,920.5 yen apiece](https://longbridge.com/zh-HK/news/279229978.md) - [Ushio Lifts Full-Year Profit Forecast on Cost Cuts, Chip Market Recovery and Weak Yen](https://longbridge.com/zh-HK/news/279714244.md) - [Triggers that could break oil's price surge](https://longbridge.com/zh-HK/news/278899161.md)