Its top currency official warned that Tokyo was prepared to take action if needed. Read more at straitstimes.com.
TOKYO - Japan issued its strongest warning over sharp currency movements in weeks after the yen set a fresh 10-month low against the US dollar overnight.
“If these moves continue, the government will deal with them appropriately without ruling out any options,” said Mr Masato Kanda, vice-finance minister for international affairs.The US currency strengthened against major peers amid a sell-off in Treasuries.The Singdollar was trading at 108.35 yen at 9.36am on Wednesday versus 97.85 yen at the end of 2022.
“These developments bring uncertainty to businesses and households, which will have a negative impact on the economy,” he said.They repeatedly said in the past that they are concerned about sharp movements in the yen rather than specific levels against other currencies.
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