Japan's Finance Minister Kato Warns of Excessive FX Movements, Yen Weakens 0.1% Against Dollar, Comments on BOJ

Japan's Finance Minister Shunichi Kato has expressed concerns over excessive foreign exchange movements, indicating that the government will take appropriate action to address these fluctuations. Kato noted that he is alarmed by recent currency volatility driven by speculators and emphasized that the Bank of Japan (BOJ) is expected to continue implementing suitable measures to manage the situation. He declined to comment on the prospects of achieving the government's target of a primary budget surplus by the next fiscal year. Meanwhile, the Japanese yen has shown signs of weakness against the U.S. dollar, with reports indicating a decline of approximately 0.1% following recent comments from BOJ Governor Kazuo Ueda, who also spoke on the currency's performance. Kato's remarks come amid a broader context of financial market stability, with South Korea's Finance Minister also warning of strong measures against herd behavior in the foreign exchange market.