Japan Pledges to Take Bold Action on Yen When Necessary

Japanese authorities said they stand ready to take action on the yen should the nation’s currency appreciate, signaling their readiness to intervene again in the foreign-exchange market.

“While the yen’s abrupt movements appear to receding, an excessive strengthening of the currency can’t be tolerated because of the adverse effects it may have on the economy and financial markets over the long term,” the government said in an economic policy paper released in Tokyo today. “We will continue to take bold action when necessary.”