Japan Ready for Further Forex Intervention: Finance Chief

Economy Politics

Tokyo, Sept. 26 (Jiji Press)--Japan is ready to intervene again in the foreign exchange market in the event of a rapid depreciation of the yen, Finance Minister Shunichi Suzuki indicated Monday.

“We’re strongly concerned about speculative moves,” Suzuki told a press conference. “There’s been no change to our policy of taking action if necessary.”

On Thursday, the Japanese government and the Bank of Japan carried out the first yen-buying intervention in about 24 years, bringing down the dollar from around 145 yen to around 140 yen.

On Monday, the dollar was rebounding to around 144 yen.

END

[Copyright The Jiji Press, Ltd.]

Jiji Press