Japan Signals Potential Intervention to Support Yen as Currency Hits 38-Year Low

By Abass Ganiyu




In response to the yen's drastic fall to a 38-year low against the dollar, Japanese Finance Minister Shunichi Suzuki has indicated that the government may intervene to stabilize the currency. The yen's sharp decline has raised concerns over the country's economic stability and inflation.

Suzuki emphasized the government's vigilance and a strong sense of urgency regarding the yen's depreciation. He reiterated that all options, including market intervention, remain on the table to curb the yen's slide and support Japan's economy.

The yen's weakening has been driven by diverging monetary policies, with Japan maintaining ultra-low interest rates while other central banks, particularly the U.S. Federal Reserve, have been aggressively hiking rates. This divergence has led to capital outflows from Japan, further pressuring the yen.

Authorities are closely monitoring market trends and ready to take necessary actions to mitigate excessive volatility and ensure economic stability.

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