The Japanese yen held its recent decline to around 159.5 per dollar on Friday, close to the critical 160 level that previously prompted authorities to intervene in the currency markets back in 2024.. Finance Minister Satsuki Katayama said authorities are prepared to take “bold actions” to counter foreign exchange moves, as surging energy prices from the Middle East conflict weigh on Japan’s oil-importing economy and its currency. Katayama also indicated that the ministry is monitoring commodity markets after reportedly making inquiries with market participants earlier this week about possible intervention in crude oil futures. Meanwhile, investors continued to grapple with heightened uncertainties in the Middle East amid skepticism that the US and Iran could strike a deal to end the war in the near term. The yen is poised to lose more than 2% this month for its biggest weekly drop since October.