Japanese Finance Minister Shunichi Suzuki said Monday the government's currency intervention last week had a "certain effect," an
Japanese Finance Minister Shunichi Suzuki said Monday the government’s currency intervention last week had a “certain effect,” and that Japan is ready to take further action if needed against “speculative” yen moves.
A currency monitor on Sept. 22, 2022, in Tokyo shows the dollar slipping below 143 yen in an initial response to Japan’s first yen-buying intervention since 1998 to stem the Japanese currency’s further fall as it sank to a fresh 24-year low in the 145 range against the dollar. (Kyodo) ==Kyodo
Suzuki said at a press conference that the government is “strongly concerned” about speculative movements, adding that it is monitoring the market with a high degree of vigilance.
Japan conducted its first yen-buying, dollar-selling operation since 1998 last Thursday, shortly after the Bank of Japan retained its ultralow rate policy and Governor Haruhiko Kuroda dismissed the possibility of raising interest rates in the next few years. The U.S. dollar briefly plunged below 141 yen from a 24-year high near 146 yen after the intervention.
Related coverage:
Japan conducts yen-buying intervention for 1st time in 24 years
FOCUS: Japan’s intervention unlikely to stem yen’s slide
Fed continues aggressive interest rate hikes to fight inflation
english.kyodonews.net