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
None of Japan’s major companies see the yen’s recent rapid fall as positive for the domestic economy, even as the currency’s weakening typically benefits its export-oriented economic structure, a survey showed Monday. In a Kyodo News survey covering 125 companies, of which 109 such as Toyota Motor Corp. and Softbank Group Corp. gave valid answers,
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
In a time of both false information and too much info, quality journalism is more vital than ever.By subscribing, you can assist us get the story. SUBSCRIBE NOW Japan must intervene in the currency market or raise interest rates to defend the yen if it deteriorates beyond ¥ 130 to the dollar, the countrys previous
