Top Japanese officials toughened up the talks on Yen, as it tumbled notably again overnight following US CPI data. Finance Minister Shunichi Suzuki said Japan wouldn’t rule out any response if current trends in the foreign exchange market continued, with intervention as an option.
The comment was echoed by top current diplomat Masato Kanda, who reiterated, “we are monitoring yen moves with a sense of urgency. We will respond appropriately to currency moves without ruling out any options.”
Chief Cabinet Secretary Hirokazu Matsuno also said at a briefing that the government would take necessary action should excessive yen moves continue. He added that rapid currency moves were undesirable.
