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Japan warns against volatility as yen slumps to 24-year low
Japan is watching currency moves with a "high sense of urgency" as rapid exchange-rate moves are undesirable, a senior finance ministry official said on Thursday, in the wake of the yen's slump to a fresh 24-year low. "Currency market volatility is heightening recently," the official told reporters. "Sudden exchange-rate fluctuations are not desirable."The remarks came after the dollar rose to a fresh 24-year high of 139.69 yen on Thursday, as investors braced for further aggressive interest rate hikes by the U.S. Federal Reserve. Once welcomed for the boost it gives exports, the weak yen is becoming a headache for ... (full story)
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