Japan alarmed over recent FX moves, its finance minister says
Add BT as a preferred source
[TOKYO] Japan’s Finance Minister Katsunobu Kato said on Friday (Aug 1) that its authorities have been alarmed over recent foreign exchange moves, after the yen fell to four-month lows against the US dollar.
“As we have consistently stated, it’s important for currencies to move in a stable manner reflecting fundamentals. We have been alarmed over foreign exchange movements, including those driven by speculators,” he said at a press conference.
The yen fell to 150.89 per dollar on Friday, the lowest since March 28.
Bank of Japan governor Kazuo Ueda said in a news conference on Thursday that current foreign exchange levels are unlikely to have an immediate major impact on its inflation outlook, a comment that currency traders perceive as the central bank’s tolerance to the yen’s current weakness. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Asia-Pacific aviation: is up really the only way?
Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies
Why disciplined stewardship matters when managing wealth in uncertain markets
More than 15,000 sign up for national accounting body’s AI programme in two months
