Japan News
Economy 06/29/2023
TOKYO – (Jiji Press) – The yen slid below 144 yen against the dollar on Wednesday, close to the level that prompted Japanese authorities to make their first market intervention by buying yen and selling dollars nearly 24 years ago last September.
Currency traders are once again becoming increasingly concerned about such interference, as Japanese government officials step up their verbal intervention.
Finance Minister Shunichi Suzuki assured reporters on Wednesday that the yen’s recent decline has been somewhat one-sided, and Suzuki stressed that “our basic stance of responding appropriately to excessive volatility remains unchanged.”
“All options are available,” said Masato Kanda, the vice minister of finance for international affairs in charge of interventions, including market intervention.
Hideo Kumano, an economist at the Dai-ichi Life Research Institute, said the Japanese authorities are taking a “similar attitude towards last year’s weakness in the yen.” It wouldn’t be strange to see him come in now.”
(Originally written in English, Jiji Press)
Economy
Jiji Press
Japanese government
yen
2023-06-29 00:18:45
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