Finance Minister Satsuki Katayama indicated on the 28th that Japan and the United States share the view that they will take action as needed regarding the persistently weak yen in the foreign exchange market. The government and the Bank of Japan conducted the largest-ever currency intervention totaling over 11 trillion yen in the one-month period through May 27, but the yen's weakening trend has not changed, and the market is closely watching comments from currency authorities amid caution over additional intervention. On the 24th, Finance Minister Katayama also showed a readiness to intervene, saying she would "respond appropriately at any time as needed" to the yen's exchange rate, which briefly approached the 164 level, but the market reaction was muted.