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▼ Japan To Take All Possible Steps Amid Weak Yen: Senior Official
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Japan will take "all possible steps" to address speculative moves in the foreign exchange market, the country's top currency diplomat said Monday, with the yen remaining under pressure as the conflict in the Middle East continues to escalate.
"Some market participants would say that speculative moves in crude oil futures are affecting the currency market," Atsushi Mimura, vice finance minister for international affairs, told reporters.
The U.S. dollar held steady in the lower 159 yen range in Tokyo as investors continued to seek safety amid fears that the Middle East crisis could be prolonged.
When the dollar rose to a similar level in January, it dropped sharply on signs that Japanese and U.S. authorities could step in to curb the yen's slide.
Mimura said the Japanese government will take into account "the impact on people's livelihoods and the economy." A weaker yen raises the cost of imported energy and goods.
"Some market participants would say that speculative moves in crude oil futures are affecting the currency market," Atsushi Mimura, vice finance minister for international affairs, told reporters.
The U.S. dollar held steady in the lower 159 yen range in Tokyo as investors continued to seek safety amid fears that the Middle East crisis could be prolonged.
When the dollar rose to a similar level in January, it dropped sharply on signs that Japanese and U.S. authorities could step in to curb the yen's slide.
Mimura said the Japanese government will take into account "the impact on people's livelihoods and the economy." A weaker yen raises the cost of imported energy and goods.
- 23/3 13:50
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