In a cautionary statement, top currency officials in Japan expressed concern over the yen’s recent weakness and warned that appropriate action would be taken if the trend becomes excessive. Finance Minister Shunichi Suzuki emphasized the importance of stable currency movements that reflect economic fundamentals. While no specific currency level was mentioned for potential intervention, investors are closely monitoring the 145-yen threshold. The Japanese currency slipped 0.36% against the US dollar, reaching its lowest level since November 10. Japan’s top currency diplomat, Masato Kanda, stated that currency moves are being closely monitored and appropriate measures will be taken if necessary. Japan last intervened in the market in September and October by buying yen and selling dollars.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.