Japan flags 'speculative' yen moves, signals chance of intervention
© Reuters. A worker holds a sample of a new Japanese yen banknote at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about the new notes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022.
"It's important for currency rates to move stably, reflecting fundamentals. Excessive volatility is undesirable, and we are watching market moves from this perspective," he said. The Japanese currency hit a 34-year low against the dollar at 151.975 this week, as markets interpreted the BOJ's dovish guidance as suggesting that rate hikes will be slow in forthcoming. It has recouped some losses to stand at 151.35 on Friday.
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