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Japan's finance officials, including Finance Minister Shunichi Suzuki, are considering intervention to stabilize the yen, which dropped to its lowest level since 1990. The recent interest rate hike in Japan has led to a significant drop in the yen's value, prompting discussions on intervention. Authorities have hinted at intervention options, with the government not ruling out any measures against excessive currency moves. Despite verbal interventions and meetings, the yen's depreciation continues, leading to intensified efforts to support the currency.
Still jawboning Japan FX Chief Calls Yen’s Slump Unusual, Vows to Act if Needed https://t.co/tj5iXrWUr7
🇯🇵Japan FX Chief Calls Yen’s Slump Unusual, Vows to Act if Needed Japan’s top currency official said recent yen weakness is odd and out of line with current economic fundamentals, reaffirming his commitment to act if needed to prevent excessive swings in the exchange rate. “I… https://t.co/SVdCyIDJ7R
As reported by Bloomberg, the Japanese authorities are intensifying their “verbal intervention” to support the currency, but so far, with limited success in reversing the Yen's depreciation, despite the Bank of Japan's rate hike and exit from YCC (yield curve control). #Japan… https://t.co/rMBLRnm9Jz