The yen’s depreciation against the dollar is “rapid and one-sided,” Japan’s top currency diplomat Masato Kanda said Monday, after the U.S. currency hit a seven-month high in the ¥143 zone.
Asked about the possibility of Japanese authorities stepping into the foreign exchange market, Kanda, vice finance minister for international affairs, told reporters, “No options are ruled out.”
The yen’s decline reflects the widening of the interest rate gap between Japan and the United States. The Japanese currency has also weakened relative to the euro.
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