The Economic Daily News reported on the 25th that Japan's Finance Minister Katsumi Katsuyuki said at a press conference after the cabinet meeting on Friday that U.S. President Trump expressed concern about the weak yen.
The yen has continued to decline recently, approaching again the level of 160 yen per dollar, currently at 158.4.
Katsuyuki said the government is taking measures within its capacity regarding bond yields, and expects the Bank of Japan to properly implement policies to achieve inflation targets.
Charu Chanana, Chief Investment Strategist at Saxo Markets, believes Katsuyuki's remarks "are probably just another round of verbal intervention; unless followed by substantive policy coordination, actual intervention, or clearer tightening path signals from the Bank of Japan, this won't fundamentally change the yen's fundamental landscape." (rc)
The yen has continued to decline recently, approaching again the level of 160 yen per dollar, currently at 158.4.
Katsuyuki said the government is taking measures within its capacity regarding bond yields, and expects the Bank of Japan to properly implement policies to achieve inflation targets.
Charu Chanana, Chief Investment Strategist at Saxo Markets, believes Katsuyuki's remarks "are probably just another round of verbal intervention; unless followed by substantive policy coordination, actual intervention, or clearer tightening path signals from the Bank of Japan, this won't fundamentally change the yen's fundamental landscape." (rc)
