Japan Finance Minister Warns Against Excessive Yen Weakening

Japan’s Finance Minister, Shunichi Suzuki, issued a warning as the yen plummeted to seven-month lows against the dollar. He expressed concern about the sharp and one-sided movements in the currency market, emphasizing that appropriate action would be taken if the weakening becomes excessive. A weak yen could have detrimental effects on the economy, particularly for consumers facing higher import costs amidst rising prices. While Suzuki did not explicitly state intentions for intervention, the currency’s decline of over 9% against the dollar this year raises concerns for Japanese authorities.