Japan is ready to respond to rapid, speculative currency movements if needed, Finance Minister Shunichi Suzuki said Thursday, a week after its intervention to stem the yen’s sharp fall versus the U.S. dollar.
Japanese Finance Minister Shunichi Suzuki speaks to reporters in Manila on Sept. 29, 2022. (Kyodo)
The government is closely watching developments in the market, adding that currency moves should be stable.
The yen-buying, dollar-selling intervention last week was meant to “correct” rapid, speculative movements, Suzuki told reporters in the Philippine capital Manila, where he attended a meeting of the Asian Development Bank.
Japan vigilant about speculative yen moves, ready to act if needed
FOCUS: Japan’s intervention unlikely to stem yen’s slide
U.S. dollar plunges to 140 yen from 145 yen after Japan’s intervention