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HomeBusinessTokyo strongly warns against yen intervention as the currency continues to fall

Tokyo strongly warns against yen intervention as the currency continues to fall

Finance Minister Shunichi Suzuki has said last week’s meeting with his US and South Korean counterparts laid the groundwork for Tokyo to act against excessive yen moves, issuing the strongest warning yet about the opportunity on intervention.

“I have expressed my deep concern about how a weak yen is driving up import costs. Our views were shared not only at a meeting with my South Korean counterpart, but also at the trilateral meeting involving the United States,” Suzuki told parliament on Tuesday.

“I will not deny that these developments have laid the foundation for Japan to take appropriate action (in the foreign exchange market), although I will not say what that action might be,” he added.

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