Speculative moves behind rapid yen weakening, warns Japan finance minister

TOKYO: Japanese Finance Minister Shunichi Suzuki warned on Friday against"speculative moves" seen behind a rapid yen weakening, using the strongest wording to date as the yen weakened to fresh 24-year lows beyond 139 yen to the dollar.

However, Japan is unlikely to gain support from the United States for any joint action to weaken the dollar as the Federal Reserve is scrambling to raise interest rates to defeat surging inflation. Suzuki was speaking to reporters after attending the first day of the Group of 20 financial leaders' two-day gathering at the resort island of Bali in Indonesia, with the global economy, health and low-income countries' debt problems on agenda.

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Japan finance minister: Speculative moves seen behind rapid yen weakeningTOKYO :Japanese Finance Minister Shunichi Suzuki warned on Friday against 'speculative moves' seen behind a rapid yen weakening, using the strongest wording to the day as the yen weakened to fresh 24-year lows beyond 139 yen to the dollar.'I'm concerned about recent sharp yen weakening,' Suzuki told reporters
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Japan finance minister: Speculative moves are seen behind yen weakening in FX marketTOKYO : Japanese Finance Minister Shunichi Suzuki warned on Friday against 'speculative moves' seen behind a rapid yen weakening, using the strongest wording to the day as the yen weakened to fresh 24-year lows beyond 139 yen to the dollar.'I'm concerned about recent sharp yen weakening,' Suzuki told repo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »