Japanese Finance Minister Shunichi Suzuki speaks with the media after a meeting of G7 leaders on the sidelines of G20 finance ministers' and Central Bank governors' meeting at Gandhinagar, India, July 16, 2023.
REUTERS/Amit Dave/File Photo Acquire Licensing RightsTOKYO, Oct 3 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Tuesday authorities were watching the currency market closely and stood ready to respond, repeating a warning against speculative moves as the yen hovered near a one-year low against the dollar.
The yen slid to within a hair of 150 per dollar, near a level that prompted intervention a year ago and putting traders on watch for action by the Japanese authorities.
Speaking at a regularly scheduled press conference, Suzuki said authorities were watching market moves with a high sense of urgency.
Suzuki said that, generally speaking, rises in long-term rates push up borrowing costs, and authorities are therefore closely watching the impact of moves in long-term rates and how they may affect households and businesses.
Persons:
Shunichi Suzuki, Amit Dave, Suzuki, Tetsushi Kajimoto, Chang, Ran Kim, Edmund Klamann
Organizations:
Central Bank governors, REUTERS, Rights, Japanese Finance, Thomson
Locations:
Gandhinagar, India, Ukraine