Japan’s government wants to act if “rapid, one-sided” moves seen in the currency market recently continue, the country’s top government spokesperson warned on Wednesday after the yen slid to a fresh 24-year low.

The comments marked officials’ latest verbal warning against the fall of the yen, which dropped as low as 143.745 per dollar on Wednesday after slumping about 1.5% on the previous day.

“I’m concerned about rapid, one-sided moves in the currency market recently,” Chief Cabinet Secretary Hirokazu Matsuno told reporters at a news briefing, using stronger language about the yen’s fall than officials’ remarks earlier this week.

The government “would like to take necessary steps if such movements continue,” he said, adding that sharp fluctuations were not desirable.

Finance Minister Shunichi Suzuki, meanwhile, was quoted by Jiji news agency as saying recent yen moves in the currency market were “somewhat rapid and one-sided”.

The Japanese currency has now lost about 20% since the start of the year, driven lower mainly by diverging monetary policies between Japan and the United States.

Reuters