Japan brands yen falls as 'speculative' as Iran war ignites sell-off
By Leika Kihara
Published on March 31, 2026.
Japan's Finance Minister, Satsuki Katayama, has labelled recent yen falls as speculative for the first time since the Middle East war began. This comes as policymakers prepare for a triple market sell-off driven by inflationary concerns. The rising oil prices from the Iran war and rising import costs from the weak yen are expected to put pressure on the Bank of Japan to raise interest rates as soon as April. Finance Minister Katayam warned of Tokyo's readiness to respond "on all fronts" against volatile moves. The yen stood around 159.93 per dollar on Tuesday, remaining a whisker away from the 160 level seen as the threshold for intervention.
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