Japanese monetary authorities made a last-minute decision to reschedule an emergency meeting to discuss the weak yen. Originally scheduled for Thursday, the meeting will now take place on Wednesday to maximize the impact of arresting a sharper fall of the yen, a source with knowledge of the matter said.
The meeting, consisting of executives from the Finance Ministry (MOF), Bank of Japan and Financial Services Agency, is typically held in times of market turbulence partly as a gesture of authorities' alarm regarding unwelcome, sharp currency moves.
As the meeting is considered as a sign that Tokyo is moving closer to intervening in the currency market, traders were on the lookout for any signs it could be held again as the yen slid toward three-decade lows against the dollar.