TOKYO, June 30 (CNA) -- Japanese Finance Minister Satsuki Katayama said Tuesday that authorities are prepared to take "appropriate action" after the yen fell to a 40-year low against the U.S. dollar. The yen has been on a downward trend in recent years, with depreciation pressure intensifying recently due to the Middle East conflict and the interest rate differential between Japan and the United States. Japanese media reported that Katayama said Japan "will take appropriate action as needed, at any time." Katayama's remarks signal to the market that Japan is ready to intervene to support the currency, after having spent more than US$70 billion (approximately NT$2.2 trillion) on intervention last month. The yen briefly fell below 161.96 yen to the dollar in London foreign exchange markets on Monday, its lowest level since 1986. In Asian trading on Tuesday, the yen briefly depreciated to 162.40 yen to the dollar before recovering to 162.17 yen. (Translation by Zhang Mingxuan) 1150630 Stand with facts, and your every contribution is a force to protect press freedom. Download the CNA "First News" app to get the latest news in real time. No part of this website's text, images, or videos may be reproduced, publicly broadcast, publicly transmitted, or used without authorization.