Kuroda Seen Capping Yen Slide as Officials Hint Limit Close
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If recent remarks by Japanese officials including the head of the central bank were aimed at capping the yen’s plunge to a 13-year low, they appear to be working.
The yen is set for its biggest weekly climb in five months versus the dollar after Bank of Japan Governor Haruhiko Kuroda said Wednesday the currency was already “very” weak relative to those of its main trading partners. That followed comments by another central bank policy board member along with former finance ministry officials that the yen may have fallen enough as it reached 125.86 on June 5, the lowest since 2002.