The yen has been under continuous pressure recently, setting a 34-year low. Japanese Finance Minister Shunichi Suzuki said that the authorities and Masato Kanda, the deputy minister in charge of foreign exchange affairs at the Ministry of Finance, maintained close communication, and did not rule out taking any measures to deal with disorderly exchange rate fluctuations.
Shunichi Suzuki pointed out that the weakness of the yen has both advantages and disadvantages, which may push up import prices and have a negative impact on consumers and enterprises. The government hopes to take appropriate measures to minimize the impact of the weakness of the yen on households.
Shunichi Suzuki said that rapid exchange rate fluctuations are not desirable, and hopes that the exchange rate can stably reflect the fundamentals. The government is analyzing the factors driving the yen trend and will closely follow the exchange rate trend with a high sense of urgency, and revealed that the G20 meeting next week may discuss foreign exchange issues.
