Japan's top currency diplomat Masato Kanda said that authorities are 'seriously concerned and on high alert' about the yen's rapid decline, escalating...
TOKYO - Japan 's top currency diplomat Masato Kanda said that authorities are "seriously concerned and on high alert" about the yen's rapid decline , escalating warnings as the Japan ese currency languished at its weakest level in almost forty years.
The market has widely seen 160 yen to the dollar as authorities' line in the sand, even though Kanda and other government officials have repeatedly said they have no specific levels in mind on when to intervene.Japan spent 9.8 trillion yen intervening in the foreign exchange market in April and May, after the Japanese currency hit a 34-year low of 160.245 per dollar on April 29.
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Masato Kanda Yen To The Dollar Japanese Currency Rapid Decline
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