Japan signals it may prop up yen after currency falls to 38-year low
Al Jazeera
Japanese Finance Minister Shunichi Suzuki says authorities watching currency’s slide with ‘sense of urgency’.
Japan has signalled it may intervene to prop up the yen after the currency fell to a 38-year low against the US dollar.
Japanese Finance Minister Shunichi Suzuki said on Thursday that authorities would take action as necessary to prevent damage to the economy.
“Rapid, one-sided moves are undesirable. In particular, we’re deeply concerned about the effect on the economy,” Suzuki told reporters.
“We are watching moves with a high sense of urgency, analysing the factors behind the moves, and will take necessary actions.”
The Japanese finance chief made his comments after the yen weakened to 160.88 against the dollar late on Wednesday, its lowest level since 1986.
