Japan Finance Minister Katayama: Volatility in Oil prices is affecting the forex market

Japan’s Finance Minister Satsuki Katayama said on Monday that the volatility in Oil prices is affecting the forex market. Speaking to reporters after the first day of the G7 Finance Ministers meeting in France, she added that she is seeing speculative moves in the financial markets.

Key takeaways

Seeing speculative moves in the financial market.

Volatility in oil prices is affecting the forex market.

Told G7 we need to take action to correct global imbalance.

We need to address risks regarding Mythos.

Told G7 that we should be united against China's export control of critical minerals.

We need to closely monitor financial markets.

PM Takaichi told me to consider how to finance planned extra budget while mitigating risks.

G7 not considering coordinated action on bond selloffs; every country is responsible for its own market situation.

G7 finance chiefs' communique likely to include statement on pricing over critical minerals.

Will take appropriate action against forex volatility.

G7 will discuss specific steps over risks related to Mythos in the run-up to summit next month.”