Japan to take all necessary steps to counter yen's dip: FinMin
Japanese Finance Minister Shunichi Suzuki said he was closely watching foreign exchange moves, noting Japan will take "all necessary steps" to act as the yen fell to a fresh 34-year low against the US dollar on Monday.
The Japanese currency, which has been on a downward trend, weakened to around 153.70 versus the US dollar in Tokyo, a level not seen since 1990, creating the potential for the Japanese government to intervene as it did in 2022.
"We are closely monitoring developments and will take all necessary steps," Suzuki told reporters.
The yen has already tumbled past levels where Japan previously intervened to halt the decline. Japanese authorities sold US dollars and bought yen after the dollar rose close to 152 yen in October 2022.
Add Your Comment
Things you should know:
1.Comments will appear only after being approved by our team. Please understand that we don’t work 24/7, so it might be a while before your comment is posted.
2.In accordance with the Regulations on Internet News and Information Services and other related laws and regulations of the People's Republic of China, comments should not contain anything that is obscene, offensive, defamatory or racist.