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Japan Finance Minister Suzuki calls recent yen weakening ‘rapid’, ‘undesirable’

Japanese Finance Minister Shunichi Suzuki. (AFP)
Japanese Finance Minister Shunichi Suzuki. (AFP)
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17 May 2022 03:05:30 GMT9
17 May 2022 03:05:30 GMT9

Japanese Finance Minister Shunichi Suzuki kept up his warning against the yen’s weakening, describing recent currency moves as “rapid” and “undesirable”.

Suzuki told parliament that he was communicating with U.S. and other currency authorities to respond to currency moves as appropriate, following the Group of Seven (G7) agreement on currencies.

Japan holds foreign reserves worth $1.35 trillion for currency intervention in the future, Suzuki added.

Reuters

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