At a post-Cabinet conference on the 22nd, Finance Minister Shunichi Suzuki said that he was “watching the current exchange rate trends with a high degree of nervousness,” and added, “We are considering all options to deal with excessive market fluctuations.” We would like to take appropriate measures without eliminating them.”
Regarding U.S. Treasury Secretary Janet Yellen’s statement showing her understanding of foreign exchange intervention by Japan’s monetary authorities, Finance Minister Suzuki said that she is in close communication with the U.S. and other foreign currency authorities, and added, “Excessive fluctuations are not desirable. We share this understanding.”
U.S. Treasury Secretary understands Japan’s foreign exchange intervention – Shares understanding with overseas authorities and Treasurer Kanda
The dollar-yen exchange rate briefly hit 148.46 yen to the dollar in the Tokyo market on the 21st, the highest since November last year. On the 22nd, ahead of the Bank of Japan’s monetary policy meeting and Governor Kazuo Ueda’s press conference, the price has been hovering in the upper 147 yen range.
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