The government is monitoring the yen with a strong sense of urgency, Finance Minister Satsuki Katayama said, sending her first clear warning on currency movements since taking on her role.
"We’ve recently seen very one-sided and rapid currency moves,” Katayama told reporters on Friday. "The government is closely monitoring excessive or disorderly movements in the foreign exchange market, including those driven by speculative moves, with a high sense of urgency,” she said.
She added it’s important for currencies to move in a stable manner, reflecting economic fundamentals. Following Katayama’s warning, the yen gained to ¥153.65 against the dollar, after hitting ¥154.17 earlier in the morning.
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