Japan’s finance minister repeats warnings after yen hits lowest since 1986

Japan will take appropriate action as needed to defend its currency as it watches out for sudden, one-sided moves, Finance Minister Shunichi Suzuki told reporters after the yen slid to the lowest level versus the dollar since 1986.

“It is desirable for the exchange rate to move in a stable manner,” Suzuki said on Thursday morning. “Sudden, one-sided moves are not desirable. We are strongly concerned about the impact on the economy. We will analyze the background to this move with a high sense of urgency, and take necessary action as needed.”

Source: Bloomberg