Japanese Finance Minister Shunichi Suzuki said on Friday that authorities would take appropriate measures against excessive movements in the currency market, repeating his warning to investors against excessive depreciation of the yen, The Japan Times reported on April 21. .
There is growing market interest in the timing and pace of the U.S. and European central banks’ shift toward less restrictive monetary policy, Suzuki said.
“Uncertainty and market speculation surrounding these events have increased volatility in financial markets, including currency markets,” Suzuki said in a statement to the International Monetary Fund’s steering committee.
“It is important that exchange rates move steadily, reflecting fundamental factors, and excessive volatility is undesirable. We will take appropriate measures against excessive movements,” he stated during the spring meetings of the International Monetary Fund and the World Bank in Washington.
A rally in the dollar, driven by lower market expectations of a near-term cut in U.S. interest rates, recently pushed the yen to its lowest level in 34 years, raising the prospect of monetary intervention by Japanese authorities. .
The United States, Japan and South Korea agreed to “consult closely” on currency markets in their first trilateral financial dialogue on Wednesday, acknowledging concerns from Tokyo and Seoul over recent sharp declines in their currencies.
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.