Japan's Finance Minister Hints at Possible Market Intervention as Yen Weakens

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Japan,Finance Minister,Market Intervention

Japan's finance minister has stated that they are closely monitoring the yen's weakness and are prepared to take all possible measures to respond to the situation if necessary. This comes after the yen slumped to a fresh 34-year low following stronger than expected US retail sales figures.

TOKYO - Japan’s finance minister stopped short of issuing his strongest warning on possible market intervention in comments that fuelled renewed yen weakness after the currency slumped to a fresh 34-year low overnight.

The finance minister’s comments come after the yen set a fresh 34-year low of 154.45 following stronger than expected US retail sales figures. With Mr Suzuki refraining from his maximum threat, the yen weakened to its low for the day. Japanese currency officials are in a tight spot as they head to the United States for meetings with their peers. International agreements call on nations to allow markets to determine exchange rates, though they leave the door open for action if there are excessive movements in the market. Strong verbal interventions or a move into the market would put Japan’s actions in the spotlight.

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