The Japanese yen dropped to a new 34-year low against the United States dollar on Monday, amid an increasing number of warnings expressed by Japanese officials regarding the foreign exchange (FX) market. The decline in the currency also came after the most recent US inflation report.
Japanese Finance Minister Shunichi Suzuki stressed on Friday that a weak yen could push up import prices, thus directly affecting both consumers and companies. He stated that the country's government will take measures to mitigate the impact a weak yen could have on households. Additionally, Japan's Vice Finance Minister for International Affairs Masato Kanda said on Thursday that the government is ready to respond properly to "disorderly" foreign exchange moves.
The dollar traded 0.11% higher against the yen, going for ¥153.4540 at 2:59 am CET.
