Japan's Finance Minister said he’s worried by movements in the yen, which weakened to levels last seen in March following dovish messaging on interest rates from the Bank of Japan.
"The government is deeply concerned about trends in the currency market, including speculative movements,” Finance Minister Katsunobu Kato told reporters on Friday. "It’s important for exchange rates to remain stable, reflecting economic fundamentals,” he added.
Kato’s comments came after the yen slid past the 150 level against the dollar on Thursday, following the BOJ’s decision to leave interest rates unchanged. Gov. Kazuo Ueda delivered a largely dovish message during his post-decision press conference on Thursday, cooling speculations about a near-term tightening move.
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