Japan concerned about sharp yen falls, ready to act, says top govt spokesman

Brian Leclere - 13 June 2022 - APP Economy MARKET_WATCH

Tokyo is concerned about sharp falls in the yen currency and stands ready to “respond appropriately” if needed, Japan’s top government spokesperson said on Monday, issuing a fresh warning to markets.

The remark echoed Friday’s joint statement by the government and central bank, but failed to avert a plunge in the yen to 135.22 against the dollar, the currency’s lowest level since October 1998.

“It’s important that currency rates move in a stable way, reflecting fundamentals. But there have recently been sharp yen declines, which we are concerned about,” Chief Cabinet Secretary Hirokazu Matsuno told a regular news conference.

“We are ready to respond appropriately as needed, while communicating closely with each country’s currency authorities.”

Source: Japan concerned about sharp yen falls, ready to act, says top govt spokesman

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