Yen falls to 40-year low, Finance Minister Shunichi Suzuki maintains "stable" tone

Odaily Odaily reports that although the yen fell to its lowest level against the US dollar since 1986, Japanese Finance Minister Shunichi Suzuki stated that Japan will be ready to take appropriate action in response to developments in the foreign exchange market, consistent with her recent remarks. Suzuki said: "Most importantly, we are prepared to take appropriate action whenever necessary." When asked whether her wording had changed, Suzuki noted that her communication style has remained "stable," and only used the term "bold action" when pressed further. The market typically interprets this phrase as a threat that the Japanese government may directly intervene in the foreign exchange market, suggesting she may currently be disinclined to send a stronger intervention signal to the market. To date, Suzuki's repeated verbal warnings have failed to halt the yen's continued weakening. Additionally, Chief Cabinet Secretary Yoshimasa Hayashi stated that Japan will take appropriate action in the foreign exchange market whenever necessary. Suzuki declined to comment on specific exchange rate levels. (Jinshi Data)