Japan Finance Minister warns markets as yen nears intervention danger zone

By Tetsushi Kajimoto TOKYO -Japan's finance minister said on Tuesday that authorities won't rule out any options in dealing with excessive currency volatility, underlining a warning that hasBy Tetsushi Kajimoto

Pressured by Japan's ultra-easy monetary policy, the currency has slipped in recent days towards 150 per dollar, a level seen by financial markets as a red line that would spur Japanese authorities to intervene, like they did last year.Later as the yen fell beyond 149 per dollar, its weakest since October 2022, he said"we are closely watching currency moves with a high sense of urgency.

The minister signalled that Japan is trying to win the consent of its key Group of Seven allies to take action if needed. The G7 rich nations make it a rule that countries need to inform their counterparts before they intervene in currency markets. The bulk of Japan's past intervention was conducted in the dollar/yen exchange rate to stem yen strength, rather than weakness, in order to protect all-important exports.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amidst a 'tricky time for fiscal policy,' experts say lack of GDP growth a concern for new Finance deputy ministerFormer finance minister John Manley says 'Finance has its own unique culture' and that it's helpful for incoming DM Chris Forbes to have some experience in the department.
Source: TheHillTimes - 🏆 11. / 79 Read more »

Finance Canada's new rules could threaten energy affordability: Electricity Canada and CGAThe Hill Times
Source: TheHillTimes - 🏆 11. / 79 Read more »

Curve Finance whales spark volume surge, bullish momentumCurve Finance's CRV token surged as crypto whales made waves, driving a $132 million volume spike. Bullish momentum reigns amidst a funding rate rollercoaster.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Highlighting champions of change key to unlocking the true potential of social financeBy empowering local initiatives and grassroots efforts, we tap into the collective wisdom and resources of communities, catalyzing change from the ground up.
Source: TheHillTimes - 🏆 11. / 79 Read more »

Australia to help finance Tonga port as climate worsens Pacific infrastructure gapBy Kirsty Needham SYDNEY (Reuters) - Australia said it will grant A$31 million ($20 million) to Tonga to complete a vital port upgrade, boosting funds ...
Source: SaltWire Network - 🏆 45. / 63 Read more »