TOKYO – Japanese Finance Minister Satsuki Katayama on Tuesday expressed concern about “very one-sided, rapid” foreign exchange movements, as the yen weakened against major currencies amid worries over Japan’s fiscal health.<\/p>\n
“The government is closely monitoring excessive fluctuations and disorderly movements in the market, including those driven by speculators, with a heightened sense of urgency,” Katayama said at a news conference.<\/p>\n
The finance chief also said it is important for currencies to move in a stable manner, reflecting economic fundamentals.<\/p>\n
Overnight in New York, the Japanese currency fell against the euro to the 180 range, its weakest level since the European single currency was introduced in 1999.<\/p>\n
Against the U.S. dollar, the yen also slid to a fresh nine-month low in the lower 155 range.<\/p>\n
Yen-selling intensified amid views that Japan’s already-tattered finances could deteriorate further, as Prime Minister Sanae Takaichi’s government prepares a large-scale economic package exceeding 17 trillion yen ($110 billion) under her “responsible and proactive” fiscal expansion agenda.<\/p>\n
The yen has already been under pressure partly due to market expectations that the Bank of Japan will find it difficult to resume near-term interest rate hikes under Takaichi’s administration, a proponent of monetary easing.<\/p>\n","protected":false},"excerpt":{"rendered":"TOKYO – Japanese Finance Minister Satsuki Katayama on Tuesday expressed concern about “very one-sided, rapid” foreign exchange movements,…\n","protected":false},"author":2,"featured_media":139641,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-139640","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/139640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=139640"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/139640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/139641"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=139640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=139640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=139640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}