(MENAFN- Kuwait News Agency (KUNA)) TOKYO, March 25 (KUNA) -- Japan's top currency diplomat warned on Monday that the government will take appropriate steps to respond to excessive weakness of yen without excluding any measures, as the yen touched a fresh four-month low against the dollar.
"The recent yen weakness does not reflect fundamentals. There are clearly speculations behind the moves," Japanese Vice Minister of Finance for International Affairs Masato Kanda told reporters.
"Yen weakness from speculative moves has huge negative effect on the national economy, and it should not be tolerated," said Kanda.
The official also affirmed that the government has been closely watching foreign exchange moves with high sense of urgency, and is "always ready" to take actions to curb excessive fluctuations. Kanda made the remarks after the Japanese yen fell to JPY 151 range against the dollar, the lowest level in four months. (end)
mk
MENAFN25032024000071011013ID1108016682
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.