Currencies
Yen Is Under Pressure Even as Japan Steps Up Its Verbal Warnings
- Kanda says Japan is ready to take action on currency if needed
- Positioning in options suggests further weakness is expected
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The yen remained under pressure even after Japan’s top currency official warned that authorities stand ready to intervene in currency markets 24 hours a day if necessary.
“If there are excessive currency fluctuations, it has a negative impact on the national economy,” said Vice Finance Minister Masato Kanda. “In the event of excessive moves based on speculation, we are prepared to take appropriate action.”