Japan Finance Minister says he is watching yen moves with 'sense of urgency'

Ecology Action Centre calls for immediate implementation of Coastal Protection Act | SaltWireTOKYO -Japanese finance minister Shunichi Suzuki maintained a warning to investors against selling the yen on Thursday, saying authorities were closely watching moves after the currency fell beyond 150 yen against the dollar.

"I'm watching market moves with a sense of urgency, as before," Suzuki told reporters at his ministry, when asked about renewed weakness in the yen. The dollar rose to 150.32 yen, its highest since October last year when Japan last intervened in the market to support the local currency. The greenback last traded at 150.08 yen.

The 150 yen line is perceived by investors as a danger zone that may trigger intervention. Suzuki made no comments about intervention. Pressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise. A hike to an existing yield cap set just three months ago is being discussed as a possibility in the run-up to next week's policy meeting, Reuters cited sources as saying this week.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

China Names Lan Fo’an as Finance Minister to Tackle Debt RisksChina picked Lan Fo’an as the Minister of Finance to replace Liu Kun, handing Lan the responsibility over a plan to diffuse local government debt risks.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

China names Lan Foan as new finance minister amid stimulus pushExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Mexico president's former finance minister backs opposition rivalExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Mexico president's former finance minister backs opposition rivalExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Ontario finance minister calls for 'urgent' meeting with Freeland over Alberta's proposed CPP withdrawalAlberta’s proposal to leave the Canada Pension Plan (CPP) could cause 'serious harm' to working people and retirees, Ontario’s finance minister said in an open letter published Wednesday.
Source: CTVToronto - 🏆 9. / 84 Read more »

Ontario finance minister calls for meeting with Freeland over Alberta's proposed CPP exitAlberta’s proposal to leave the Canada Pension Plan (CPP) could cause “serious harm” to working people and retirees, Ontario’s finance minister said in an open letter published Wednesday.
Source: CP24 - 🏆 30. / 67 Read more »