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