Japan finance minister warns against weakening as yen strikes 7-month low

Suzuki warned against investors pushing the yen too low as the currency weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities.“It is important for currencies to move stably reflecting fundamentals,” Suzuki told reporters. “Sharp and one-sided moves are seen in the currency market lately. We will respond appropriately if the moves become excessive.

Suzuki stopped short of saying he was ‘deeply concerned’ or declaring intention to take ‘decisive steps’, which were the phrases he used as a prelude to the last time authorities intervened in the currency market.

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