Japan Amps Up Intervention Threat as Yen Hits Lowest Since 1990
- Finance Minister Suzuki promises ‘bold measures’ if needed
- Yen may quicken drop if 152 barrier broken, say traders
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Japan had its toughest warning yet for traders on its willingness to intervene in currency markets after the yen slid to its weakest level in about 34 years against the dollar.
The nation’s currency dipped to 151.97 versus the greenback early on Wednesday in Tokyo — beyond the level at which policymakers stepped in during October 2022 — before comments from government officials on their readiness to act boosted the yen to its strongest level of the day.