Japan will take appropriate steps vs excessive yen moves, says finance minister

A man walks in front of electronic boards showing the rate of the Japanese yen versus the US dollar and a share price of the Tokyo Stock Exchange along a street in Tokyo on September 28, 2023.Japan will take appropriate steps against excessive moves in the yen "without ruling out any options", Finance Minister Shunichi Suzuki said on Wednesday, keeping markets on alert over the chance of yen-buying intervention.

"The government is watching market developments very carefully. We're ready to take necessary action against excess volatility, without ruling out any options," he added. "Even if that's not the case, if we see one-sided moves accumulate into very big moves in a certain period of time, that's also excess volatility," he said. He declined to comment on whether the overnight yen moves were excessive.

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