Yen's continuing climb puts Japanese authorities in a bind
Tokyo wants to curb its rise through official intervention, but risks coming under fire for it
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Tokyo
THE yen continued maiming the Japanese economy as it climbed against the dollar and other major currencies on Thursday, and even as a senior government official pledged that Tokyo would take the necessary steps to stem its ascent, markets are assuming a further strengthening of the currency.
After it hit an 18-month high of 108.27 in Tokyo trading, Chief Cabinet Secretary Yoshihide Suga complained that its movement in recent days had been "one sided"; implying possible official intervention, he said that the government would monitor the foreign exchange market "closely, tensely".
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