{"id":29416,"date":"2023-06-29T23:50:25","date_gmt":"2023-06-30T03:50:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/japan-finance-minister-warns-against-excessive-weakening-as-yen-strikes-7-mth-low\/"},"modified":"2023-06-29T23:50:26","modified_gmt":"2023-06-30T03:50:26","slug":"japan-finance-minister-warns-against-excessive-weakening-as-yen-strikes-7-mth-low","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=29416","title":{"rendered":"Japan finance minister warns against excessive weakening as yen strikes 7-mth low"},"content":{"rendered":"
\n

By Tetsushi Kajimoto<\/p>\n

TOKYO (Reuters) -Japan would take appropriate steps should the yen weaken excessively, Finance Minister Shunichi Suzuki said on Friday after the currency plumbed seven-month lows against the dollar.<\/p>\n

Suzuki warned against investors pushing the yen too low as the currency weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities.<\/p>\n

“It is important for currencies to move stably reflecting fundamentals,” Suzuki told reporters. “Sharp (OTC:) and one-sided moves are seen in the currency market lately. We will respond appropriately if the moves become excessive.”<\/p>\n

Suzuki stopped short of saying he was ‘deeply concerned’ or declaring intention to take ‘decisive steps’, which were the phrases he used as a prelude to the last time authorities intervened in the currency market.<\/p>\n

The intervention launched in September last year, when the yen weakened past 145 per dollar, was the first in 24 years.<\/p>\n

On Friday, the Japanese currency struck 145.07 per dollar in early Asia trade, its lowest in over seven months, but it had steadied to 144.80 by late morning.<\/p>\n

Japanese authorities have said the velocity of currency moves are deciding factor for intervention, not specific levels.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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Suzuki warned against investors pushing the yen too low as the currency weakened past 145 per dollar on Friday, a level which kept speculators […]<\/p>\n","protected":false},"author":1,"featured_media":29417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-29416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nJapan finance minister warns against excessive weakening as yen strikes 7-mth low | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Tetsushi Kajimoto TOKYO (Reuters) -Japan would take appropriate steps should the yen weaken excessively, Finance Minister Shunichi Suzuki said on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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