Japan Intervened in Forex Market Alone

Economy Politics

Tokyo, Sept. 23 (Jiji Press)--Japan intervened in the foreign exchange market Thursday to buy yen for the first time in about 24 years, but the intervention was conducted alone as no other country joined it, officials said.

Spokespersons for the U.S. Treasury Department and the European Central Bank separately said Thursday that they did not participate into the intervention.

Swiss National Bank Chairman Thomas Jordan told a press conference Thursday that his bank will not take part in any coordinated measures to support the yen.

Japanese Finance Minister Shunichi Suzuki told a press conference Thursday that Japan is keeping in constant communication with other countries, but declined to comment on whether the intervention was a concerted effort.

The Treasury Department spokesperson said, "We understand Japan's action, which it states aims to reduce recent heightened volatility of the yen."

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Jiji Press