Japan Issues Warning on Weak Yen, Vows Appropriate Actions

In Washington on April 19, the Japanese government restated its warning that it would take necessary measures in response to an overly weak yen in foreign exchange markets.

During a statement at the International Monetary and Financial Committee in Washington, Japanese Finance Minister Shunichi Suzuki reaffirmed the government’s stance, emphasizing its readiness to act against excessive fluctuations in foreign exchange rates.

With currency markets experiencing heightened volatility, Suzuki underscored the importance of stable movements in foreign exchange rates reflective of underlying fundamentals. He cautioned against excessive volatility, stating that such conditions are undesirable.

Speculation has been mounting that Japanese authorities may intervene in foreign exchange markets to support the yen, particularly as the dollar has surged to a 34-year high against the Japanese currency.

In addition to addressing currency concerns, Suzuki announced Japan’s commitment to allocate 6 million dollars to enhance cooperation with Pacific island countries. This investment underscores Japan’s dedication to fostering stronger ties and supporting development initiatives within the Pacific region.

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