Sunday, December 3, 2023
HomeEconomyJapan will properly decide on any excess movements in yen - ruling...

Japan will properly decide on any excess movements in yen – ruling coalition party official

TOKYO (Reuters) – Japan will appropriately decide whether to intervene to stop the yen from depreciating too much, as the yen tumbles to

1.5 percent, a senior lawmaker from Japan’s ruling coalition party said on Friday. Year-to-date lows for the dollar.

Komeito Secretary-General Keiichi Ishii, an ally of the ruling Liberal Democratic Party, made the comments hours after Japanese Finance Minister Shunichi Suzuki reiterated the government’s policy. Prepare to take “appropriate action” at the 20 financial leaders meeting in Washington.

Yen tumbled to

year lows overnight, boosted by news that US data showed consumer inflation at 8.2%, supporting the Fed’s continued interest rate hikes The long-term view further hits the value of the Japanese currency.

Ishii said Japan needs to monitor the historically weak yen with a strong sense of urgency.

“Whether it is a weak yen or a strong yen, excessive foreign exchange volatility will have a very bad effect on the economy,” Ishii told a news conference.



Please enter your comment!
Please enter your name here


Featured NEWS