Japan will respond appropriately to excessive volatility in the foreign exchange market, its top currency diplomat says in a fresh warning against "speculative" and "disorderly" yen moves after market talk of interventions last week.
Japan is closely watching currency movements and is ready to take all necessary steps, Finance Minister Shunichi Suzuki says, amid market caution about intervention to slow the yen's fall to 34-year lows against the U.S. dollar.
The yen slides to the 156 level against the U.S. dollar after the Bank of Japan left its policy rate unchanged and said it will continue bond purchases in accordance with its decision last month.
Japan will take appropriate action to counter excessive volatility in the currency market without ruling out any options, Finance Minister Shunichi Suzuki says, as the yen weakened further and neared the psychologically important 155 line against the U.S. dollar.
The yen fell into the 152 range against the U.S. dollar on Wednesday in New York for the first time in nearly 34 years as strong U.S. inflation data added to expectations that the Federal Reserve will