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Japan must take steps against 'excessive, one-sided' yen moves, deputy chief cabinet secretary says

Sunday, September 11, 2022
Japan must take steps against 'excessive, one-sided' yen moves, deputy chief cabinet secretary says © Reuters. FILE PHOTO: A Japan yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

By Leika Kihara

TOKYO (Reuters) - Japan's Deputy Chief Cabinet Secretary Seiji Kihara said on Sunday the government must take steps as needed against excessive declines in the yen.

"As for excessive, one-sided currency moves, we will closely watch developments and must take steps as needed," Kihara told a television programme, when asked about the yen's recent sharp declines.

The yen has recently fallen to 24-year lows against the dollar, as investors focus on the widening divergence between the U.S. Federal Reserve's aggressive interest rate hikes and the Bank of Japan's pledge to maintain ultra-low rates.

"I won't comment on monetary and interest-rate policy, as they fall under the jurisdiction of the BOJ," Kihara said.

Kihara also said the government was ready to decide "in the not so distant future" on steps to further open Japan's borders to overseas visitors, such as scrapping a ceiling on the daily number of entrants.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

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EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

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GBP/USD

1.2475

-0.0015 (-0.12%)

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Moving Avg:

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Indicators:

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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168.32

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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