Japan's finance minister says yen intervention may be necessary when there are 'excessive' moves

Japan's finance minister says yen intervention may be necessary when there are 'excessive' moves

May 03, 2024 by CNBC

Key Facts

  • Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, on May 13, 2023.
  • Pool | Via Reuters Japanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country’s policymakers if the yen moved in sharp directions that started to affect households and companies.
  • On Wednesday, the currency strengthened by more than 2% to trade near 153 against the dollar, which is likely to have been caused by an intervention, according to some market analysts.
  • Japanese authorities are yet to issue an official statement confirming their role in propping up the currency.

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