Japan Continues To Monitor FX With High Urgency, Finance Minister Says
James WhitmanJapan Finance Minister Satsuki Katayama reiterated on Tuesday the government would continue to monitor foreign exchange movements with a high sense of urgency as the yen hit fresh eight-month lows.
Japan Finance Minister Satsuki Katayama reiterated on Tuesday the government would continue to monitor foreign exchange movements with a high sense of urgency as the yen hit fresh eight-month lows.
"At the previous press conference (on Friday), I strongly expressed my views after observing the developments over those two days," Katayama said at a regular press conference.
"My stance remains completely unchanged at this point. Since we are seeing one-sided and rapid movements, just as I said at that time, we continue to monitor the situation with a high level of urgency," she said.
The yen touched 154.47 per dollar in early Asian trading on Tuesday, its lowest level since mid-February, stoking some market jitters about the potential for intervention.
Katayama's wording was mostly unchanged from Friday, when she warned that the government had been monitoring, with a high sense of urgency, excessive fluctuations and disorderly movements on the currency market, including those driven by speculators.
Those were her strongest comments on the currency since assuming her role last month. Her previous remarks had been limited to general principles, including that exchange rate movements should be stable and reflect economic fundamentals.
