Japan Warns on FX Volatility as Yen Nears 160
Japan's top currency diplomat issued a fresh warning against rapid foreign exchange moves as the yen approached the key 160 per dollar level. Atsushi Mimura cited interventions from earlier this year, noting the currency is sliding amid rising US interest rate expectations.
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Japan's top currency diplomat Atsushi Mimura warned against excessive foreign exchange volatility on Thursday morning as the USD/JPY exchange rate edged toward the key 160 level. The move echoes previous market interventions executed by Tokyo during the summer.
