With the yen at a 24-year low, Tokyo stocks down the most since March and bond yields hitting their ceiling, the Bank of Japan is under duress having to defend a policy the rest of the world is quickly moving on from. In his clearest warning yet on the yen’s weakness, BOJ Gov. Haruhiko Kuroda,
Washington – The U.S. Treasury Department said Friday that Japan remains on a list of countries it monitors over potentially “unfair” currency practices, while noting that foreign exchange intervention should only take place in “very exceptional” cases amid the rapid weakening of the yen against the U.S. dollar. In a semiannual report to Congress on
Prime Minister Fumio Kishida said Tuesday rapid currency moves are “unfavorable” for many parties, amid growing concern about the negative impact of a weak yen on the fragile economic recovery at home. Speaking at a news conference, Kishida said currency levels reflect the outcome of economic and monetary policies, expressing hope that the Bank of
Finance Minister Shunichi Suzuki and U.S. Treasury Secretary Janet Yellen met Thursday and agreed to uphold existing foreign exchange-rate agreements, with Suzuki saying he discussed recent abrupt moves in the yen. Suzuki declined to comment on whether the two spoke about market intervention to prop up the yen. He said the talks focused more on
