Japan Will Take Appropriate Action Against Excessive Yen Moves, Finance Minister Says
By Megumi Fujikawa
TOKYO--Japan's Finance Minister Shunichi Suzuki said the government would take appropriate action against excessive yen moves, although he declined to comment on whether he thinks the recent weakening of the yen is excessive.
"I am deeply concerned about the effects of rapid and one-sided moves in the foreign exchange market on the economy," Suzuki said at a news conference Friday. He added the yen's credibility has remained unhurt.
The yen briefly weakened to 161 against the dollar, its lowest level since December 1986, during Friday morning trading in Tokyo.
Suzuki also announced that Atsushi Mimura has been appointed as the nation's new top currency official, and will replace Masato Kanda at the end of July. Mimura is currently the director general of the MOF's international bureau.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
June 27, 2024 23:28 ET (03:28 GMT)
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