Top currency diplomat Atsushi Mimura says recent moves are too fast and reminds markets of this summer's intervention.
Japan's top currency diplomat, Vice Finance Minister for International Affairs Atsushi Mimura, warned markets on Thursday, 12 November, that it was "too early to forget" this summer's intervention, as the Japanese currency weakened again toward 160 to the dollar, CNA reported, carrying Reuters.
In his first comments on foreign exchange since late September, Mimura said recent moves had been excessively rapid. He was referring to the yen-buying operations Japan carried out from late July into early August, one of them jointly with the United States.
The dollar climbed to 159.94 against the Japanese currency early on Thursday, its strongest level in more than two months. The move was driven by growing expectations that the US Federal Reserve will raise interest rates, after higher-than-expected US inflation data and hawkish remarks from policymakers.
