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Japanese authorities, including Chief Cabinet Secretary Hayashi and Finance Minister Shunichi Suzuki, are considering intervention options to address the yen's decline. The government remains vigilant amid speculative moves and a lack of defensive lines against the yen's fall. Experts suggest the possibility of FX intervention while U.S. and EU markets are closed, with a commitment to prevent excessive swings in the exchange rate.
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
