On Wednesday, the yen depreciated, reaching a 34-year low of 151.97 against the U.S. dollar, reigniting discussions on potential Japanese government intervention. The currency later adjusted to 151.22. This decline follows a previous record low in October 2023.
Japan's finance minister, Shunichi Suzuki, mentioned that actions to stabilize FX movements are being considered. Following a tripartite meeting, Masato Kanda highlighted the government's close monitoring of the yen's rapid fluctuations, emphasizing the seriousness of recent movements. Analysts from the Commonwealth Bank of Australia and Bank of America Global Research suggest that government intervention is increasingly likely, though it may not resolve underlying issues.
Source: cnbc.com