Newsfrom Japan
Tokyo, June 19 (Jiji Press)–Japanese Finance Minister Satsuki Katayama on Friday warned against speculative movements in the foreign exchange market, signaling authorities’ readiness to intervene as the dollar soared to its highest levels in nearly two years against the yen.
Japanese authorities “will take firm measures if there are speculative movements,” Katayama said at a press conference.
The dollar rose above 161 yen, climbing above levels seen just before Japanese authorities intervened to support the yen at the end of April.
“There is no change in our stance to act decisively when necessary,” Katayama said.
In Tokyo trading Friday, the dollar was at 161.19-20 yen at 11 a.m., up from 160.60-60 yen at 5 p.m. Thursday.
[Copyright The Jiji Press, Ltd.]
