Finance Minister Shunichi Suzuki on Tuesday reiterated that sharp yen moves were "undesirable" and that he was watching rising volatility in the exchange market with a "great sense of urgency" as the currency hit a fresh 24-year low past ¥141 to the dollar.
It was Suzuki's latest verbal warning on the currency but it was not considered as strong as comments made in July, when a fall beyond 139 to the dollar prompted him to say he was "concerned." Suzuki's comments on Tuesday were made before the yen hit the new low.
The yen on Tuesday weakened beyond ¥141 per dollar for the first time since 1998, last trading at ¥141.17 per dollar. It has slumped nearly 20% since the start of the year, on diverging monetary policies between Japan and the United States.
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