Japan to take every possible measure against currency volatility
Japan will “continue to take every possible measure” in response to volatility in foreign exchange markets, Finance Minister Shunichi Suzuki said Tuesday.
Suzuki’s comment came after the yen hit 151.92 against the U.S. dollar in New York overnight, nearing its lowest level in about 33 years.
The Japanese currency dropped to 151.94 against the dollar in October last year, hitting a 32-year low on the back of a widening interest rate differential between Japan and the United Sates.
The rapid fall of the yen at the time prompted Japanese authorities to conduct a yen-buying, dollar-selling interve...