Japan's top currency diplomat escalates warning against rapid yen falls
TOKYO - Japan's top currency diplomat Masato Kanda said that authorities are"seriously concerned and on high alert" about the yen's rapid decline, escalating warnings as the Japanese currency languished at its weakest level in almost forty years.
Japan's currency touched 160.50 per dollar, the weakest since December 1986, creating market jitters over the possibility of another intervention to support the yen. Japan spent 9.8 trillion yen intervening in the foreign exchange market in April and May, after the Japanese currency hit a 34-year low of 160.245 per dollar on April 29.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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