Japan finance minister Katayama reaffirms that monetary policy setting is up to the BOJ to decide

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No change to government stance that specific monetary policy is left for the BOJ to decide uponGovernment will work to avoid misunderstanding in markets over fiscal, monetary policy stanceKeeping a close eye on daily market moves, economic dataWill strive to stably lower Japan's debt-to-GDP ratioRate moves are determined by marketsThe remarks above aren't anything new as they have been what the government has been preaching all this while. It is just that as rates continue to ramp higher and fiscal worries grow, there is plenty of scrutiny on the directive of monetary policy in trying to match together with the fiscal goals of the Takaichi administration.This has already been the case since Takaichi took over as Japan prime minister since October last year.So, the trials and tribulations just continue to play out with one of the main victims being the Japanese yen currency. The US-Iran conflict has only served to make things tougher, with the BOJ now having to deal with cost-push inflation as part of the picture as well.And that is one of the main reasons why USD/JPY just continues to ramp higher, with the path of least resistance still being for a move up. The only thing standing in the way of a total breakdown in the yen is potential intervention action by Japan's ministry of finance. This article was written by Justin Low at investinglive.com.