NEW YORK – Japanese Prime Minister Fumio Kishida said on Thursday excessive movement in the yen due to speculation cannot be overlooked and that his government would act “with a high level of vigilance” and intervene to support the currency again if necessary.
“Should there be any excessive volatility we will take action,” he said in a speech at the New York Stock Exchange, hours after Japan bought yen to prop up the currency for the first time since 1998.
The remarks underscored Tokyo’s resolve to continue battling sharp declines in the yen, which have added pain to households and retailers by inflating already rising prices of raw material and fuel imports. It is …
Keep on reading: Japan PM Kishida says ready to act again to support yen
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