US Treasury Says It Understands Japan’s Yen-Intervention Move
- Bank of Japan bought yen Thursday, first such move since 1998
- US didn’t participate in the intervention, Kikukawa says
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The US Treasury stopped short of explicitly endorsing Japan’s action to intervene in the foreign-exchange market Thursday, while saying it understood the move.
“The Bank of Japan today intervened in the foreign-exchange market,” Treasury spokesman Michael Kikukawa said in an emailed statement. “We understand Japan’s action, which it states aims to reduce recent heightened volatility of the yen.”