The Japanese yen fell past 158 per dollar on Tuesday, marking its lowest point in more than five months and prompting fresh verbal intervention from a top Japanese official.
Finance Minister Katsunobu Kato reiterated his warning against speculative and unilateral currency moves, signaling the government's readiness to take action if excessive volatility persists. The comments came as the yen weakened toward the 160 per dollar level, which had previously prompted intervention six months ago.
The yen has come under pressure recently amid growing uncertainty over the timing of an interest rate hike by the Bank of Japan. BOJ Governor Kazuo Ueda stressed that any policy adjustments would depend on economic, price and financial conditions, highlighting the importance of sustained wage growth. The central bank also stressed the need for caution given domestic and global uncertainties. (AL)
Source: Trading Economics
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