Finance Minister Shunichi Suzuki has ramped up the government's verbal warnings over the weakening of the yen with remarks that briefly supported a gain in the currency.
"The government will closely monitor developments in the foreign exchange market, including the recent depreciation of the yen, with a sense of vigilance,” Suzuki told reporters Tuesday. "That includes the impact on the Japanese economy.”
The yen briefly strengthened to ¥125.11 against the dollar from ¥125.48 before the remarks, though the gains were short-lived. The currency traded below levels seen before Suzuki’s comments within less than an hour.