Japan's finance officials have indicated a readiness to intervene in the foreign exchange market amid concerns over excessive currency fluctuations. The country intervened twice in the foreign exchange market during the last quarter, responding to renewed weakness in the yen. Speculation is rising that further interventions may occur as the yen continues to face downward pressure. Finance Minister Shunichi Suzuki emphasized that authorities will take appropriate action against any excessive currency moves, highlighting the risks associated with an undervalued yen in the current economic climate. The interventions last quarter involved significant monetary amounts, reflecting Japan's commitment to stabilizing its currency.
Japan says it stepped into the foreign exchange market twice last quarter. Billions… Just another day at the office.
Koichi Hamada hopes that Japan's new prime minister, @shigeruishiba, recognizes the risks raised by an undervalued yen in today's economy. https://t.co/xFmuuPJ74k
Japan to respond appropriately to excess FX moves, finance minister says https://t.co/ZTXCVKsWgE https://t.co/pwOFAcFmon