“We are closely watching currency moves with a strong sense of urgency,” Kanda told reporters. “We will respond appropriately if it becomes excessive.”
He stopped short of strengthening the warning from a similar one issued by the finance minister on Tuesday, in a sign there may still be some time before any intervention to stem the yen’s weakening.
Kanda was speaking to reporters after the yen slumped to a fresh seven-month trough versus the dollar overnight.
The Japanese currency fell 0.36% versus the greenback to as low as 144.02, its weakest since Nov. 10, as investors eyed a possible intervention by Japanese authorities.
Japan last conducted its rare yen-buying, dollar-selling intervention in September and October. Investors are eyeing a 145-yen threshold for intervention, a level around which the government stepped into the market in September.
Source: Economy - investing.com
