URGENT: Japan watching forex moves closely, stability important: minister

Economy

Japanese Finance Minister Shunichi Suzuki said Friday the government is carefully watching developments in the currency market as stability is important, in response to the yen’s recent sharp fall relative to the U.S. dollar.

Speaking at a press conference, Suzuki stressed that currency movements should reflect economic fundamentals.

The yen’s renewed weakness reflects a widening interest rate gap between Japan and the United States amid receding expectations of a rate cut by the Federal Reserve.

Kyodo News

Kyodo News