Economic news
Japan top FX diplomat says recent yen moves “one-sided” in fresh warning
2024.10.17 20:53
By Makiko Yamazaki
TOKYO (Reuters) – Japan’s top currency diplomat, Atsushi Mimura, said on Friday that recent currency moves are “somewhat one-sided and rapid,” in a fresh warning against speculative trading as the yen fell past the key 150 line against the dollar.
“We as Japanese authorities are closely watching foreign exchange moves, including speculative ones, with a high sense of urgency,” Mimura told reporters.
The dollar touched 150 yen for the first time since Aug. 1 after solid U.S. retail sales data reinforced expectations that the Federal Reserve will pursue modest interest rate cuts over the next year-and-a-half as the world’s largest economy remained resilient.
