The government on Thursday warned against the depreciation of the yen after it briefly fell to a fresh 24-year low in the 139 zone versus the U.S. dollar, saying rapid movements of foreign exchange rate are "undesirable." Currency rates should "move stably, reflecting economic fundamentals," Japan's Chief Cabinet Secretary Hirokazu Matsuno said at a press conference, adding that the government is "watching foreign exchange market moves with a high sense of urgency."
