Japan's top currency diplomat escalates warning against rapid yen falls

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TOKYO : Japan's top currency diplomat Masato Kanda said that authorities are "seriously concerned and on high alert" about the yen's rapid decline, escalating warnings as the Japanese currency languished at its weakest level in almost forty years".

"It is generally accepted that the current weakness in the yen is not necessarily justified, therefore believed to be driven by speculators," Kanda, the vice finance minister for international affairs, told reporters on Wednesday.

Japan's currency touched 160.50 per dollar, the weakest since December 1986, creating market jitters over the possibility of another intervention to support the yen.

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Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Market Kanda Weakest 2024 Notes Japanese Dollar Japan Currency Authorities Tokyo

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 21:52:13 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 270 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21394367

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