Japan finance minister issues fresh warning against weak yen

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Japan finance minister issues fresh warning against weak yen - Channel News Asia

Quick Summary:

TOKYO : Japan Finance Minister Katsunobu Kato issued a fresh warning against speculative yen selling on Tuesday, as the Japanese currency sank to a five-month low below 158 per dollar in volatile trade.

FILE PHOTO: Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022.

"The Japanese government has been alarmed by foreign exchange developments, including those driven by speculators, and will take appropriate action against excessive moves," Kato said at a regular press conference.The dollar reached 158.33 yen on Tuesday, the highest since July 17, drawing support from higher U.S.Treasury yields.