Japan's Finance Minister Cautions Against Excessive Yen Depreciation

Japan's Finance Minister, Shunichi Suzuki, has warned against excessive weakening of the yen, stating that appropriate steps will be taken if the currency weakens excessively. The yen recently hit seven-month lows against the dollar, causing speculators to be wary of potential intervention by Japanese authorities. While a weak yen can have both positive and negative effects on the economy, Suzuki emphasized that it is not positive considering the current situation where government policy focuses on mitigating the impact of rising prices. The yen has depreciated by over 9% against the dollar this year, and Japanese authorities have stated that the velocity of currency moves will determine whether intervention is necessary.