Japan¡¯s Finance Minister said he¡¯s worried by movements in the yen, which weakened to levels last seen in March following dovish messaging on interest rates from the Bank of Japan.
¡°The government is deeply concerned about trends in the currency market, including speculative movements,¡± Finance Minister Katsunobu Kato told reporters on Friday. ¡°It¡¯s important for exchange rates to remain stable, reflecting economic fundamentals,¡± he added.
Kato¡¯s comments came after the yen slid past the 150 level against the dollar on Thursday, following the BOJ¡¯s decision to leave interest rates unchanged. Gov. Kazuo Ueda delivered a largely dovish message during his post-decision press conference on Thursday, cooling speculations about a near-term tightening move.
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